On May 27, 2024, Liao Min, Vice Minister of Finance of China, attended the international conference "80 Years after Bretton Woods: Building an International Monetary and Financial System for All" held in Hangzhou,East China's Zhejiang province, and delivered a keynote speech. The conference was jointly hosted by Tsinghua University's PBC School of Finance, the Reinventing Bretton Woods Committee, and the Academy of Contemporary China and World Studies.

Liao said that the Bretton Woods system is the outcome of international cooperation after World War II, and that its creation and evolution have left important historical lessons. Noting that currently, the world is undergoing profound changes unseen in a century, with multiple intertwined challenges in growth, structure, trade and development, he suggested the international community continue the spirit of multilateralism embodied by the Bretton Woods system, adapt to the diversification of the international monetary system, defend trade liberalization and investment facilitation, strengthen the multilateral development financing system, and accelerate the reform of the global governance system to create a robust, structurally optimized, and sustainable global economy.

Liao stressed that China is both a beneficiary of the current international system as well as a contributor to global development and a defender of international order. China is also a major investment and trade partner for many countries and regions. Following the directives of President Xi Jinping, China upholds the global governance featuring extensive consultation and joint contribution for shared benefits. China adheres to a high level of opening-up and strives to align with high-standard international economic and trade rules, so as to achieve its own development and benefit the whole world.