Participants mainly discussed the issues related to the global economy, international financial architecture, sustainable finance, infrastructure investment, international taxation and the financial sector.

Liu Kun, Minister of Finance of China, attended spoke at the meeting via video link, accompanied by Wang Dongwei, Vice Minister of Finance of China.

Liu said that facing a more complex and challenging global economic situation, G20 countries should join hands to overcome difficulties, pursue common development, promote cooperation, uphold true multilateralism and promote the implementation of the Global Development Initiative.

First, measures should be taken to strengthen macro policy coordination in response to such global challenges as inflation, food and energy insecurity and prevent serious negative spillovers from policy adjustment of certain countries. Second, efforts are needed to mobilize development finance at a broad scale and undertake objective analytical work on the root causes of debt vulnerability. Multilateral creditors like the World Bank and commercial creditors should also take actions to implement debt treatments in accordance with the principle of "joint action and equitable burden-sharing". Third, efforts should also be made to facilitate investment in infrastructure and give full play to the role of the G20 in building consensus and mobilizing resources, so as to provide more quality and sustainable infrastructure investment that will deliver benefits to the people. Fourth, following the principle of common but differentiated responsibilities, G20 countries should promote international cooperation in response to climate change in pursuing development. Fifth, they should work together to build a fair and sustainable modern international taxation system, taking into account country circumstances and concerns, to advance relevant work of the Two-Pillar Solution to Address Tax Challenges Arising from the Digitalisation of the Economy.

Liu noted that China will adhere to the underlying principle of pursuing progress while ensuring stability, and put in place relevant policy measures, so as to provide great dynamism for the recovery of the global economy and broaden market opportunities for all countries.

The meeting was hosted by Indonesia, the current G20 Presidency, and attended by officials of finance ministries and central banks of G20 countries and invited countries, as well as the senior managements of relevant international organizations.