The G20 Finance Ministers and Central Bank Governors Meeting under the Indonesian Presidency was held in Washington, D.C. both online and offline on April 20-21, 2022. The meeting discussed such issues as Global Economy and Risks, Global Health, International Financial Architecture and Sustainable Finance. All participants stressed that G20 should play its role as the premier forum for international economic cooperation, strengthen macro policy coordination, jointly respond to global risks and challenges, make concerted efforts to stabilize the world economy and promote common development. Liu Kun, China’s Finance Minister, attended and spoke at the meeting via video link.
Liu said that in the face of risks and challenges, all G20 members should work together to provide stabilizing factors for the world. First, G20 members should be committed to improving the international system with the United Nations as its core and the international order underpinned by international law, and avoid politicizing or weaponizing the world economy as a tool. Second, G20 members should establish a sense of community, adopt responsible economic policies and explore innovative momentum to energize global growth. Third, G20 members should address the concerns of developing countries through multiple channels and ensure that people’s livelihoods are not impacted. China welcomes all parties to support and participate in the Global Development Initiative, with a view to accelerating the implementation of the UN 2030 Agenda for Sustainable Development and achieving strong, green and balanced global development.
Liu pointed out that China will continue to work with all parties to improve the global health governance system and strengthen financing cooperation against pandemic under the framework of the World Health Organization, so as to implement the important consensus reached by G20 leaders. To promote green and low-carbon development, China supports experience sharing on financial policies in response to climate change at the G20 Finance Track in line with its mandate and relevant principles of the United Nations Framework Convention on Climate Change. China is ready to implement the Common Framework for Debt Treatments beyond the DSSI in line with the principle of "joint action and equitable burden-sharing" in a solid and orderly manner and on a case-by-case basis. The World Bank and other multilateral creditors, as major creditors of relevant debtor countries, should also take concrete actions.
As for statements made by some G20 members about the impact of geopolitical factors on the global economy, the Chinese side stressed that China opposes politicizing economic issues, and G20 should be faithful to its own mandate and ensure the discussions focus on economic impacts and take a comprehensive and balanced approach.