South Africa, the G20 Presidency, convened the second G20 Finance Ministers and Central Bank Governors Meeting of the year in Washington, D.C. from April 23 to 24, 2025.

The meeting focused on the global macroeconomic outlook and financial stability, international financial architecture, and measures to address impediments to development and growth in Africa.

Chinese Minister of Finance Lan Fo’an attended the meeting and delivered remarks, accompanied by Vice Minister Liao Min.

Lan noted that the global economy is currently facing a lack of growth momentum, and tariff and trade wars are further undermining economic and financial stability. China firmly upholds the multilateral trading system with the World Trade Organization at its core, advocates resolving trade and tariff disputes through equal dialogue and consultation, and will resolutely safeguard its legitimate rights and interests.

He emphasized that all parties should enhance multilateral cooperation to further improve the international economic and financial system, actively advance reform of multilateral development banks, effectively advance the 2025 International Bank for Reconstruction and Development shareholding review, and pragmatically improve the implementation of the Common Framework for Debt Treatments Beyond the Debt Service Suspension Initiative. It is also important to incentivize international financial institutions and the private sector to provide greater support to vulnerable countries in addressing debt and liquidity challenges, he added.

Lan called for mobilizing more resources for Africa’s development, strengthening the capacity-building of African institutions, and leveraging digital and green transformation to inject new impetus into Africa’s economic growth. He also highlighted China's stable and positive economic trajectory and policy orientation, as well as China’s major initiatives supporting Africa’s development.

On the sidelines of the meeting, Lan met respectively with Finance Minister of South Africa Enoch Godongwana (representing the G20 Presidency), Commissioner for Economy and Productivity of European Commission Valdis Dombrovskis, Finance Minister of Pakistan Muhammad Aurangzeb, Germany’s Minister of Finance Joerg Kukies, South Korean Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, Indonesian Finance Minister Sri Mulyani Indrawati, Chancellor of the Exchequer of the United Kingdom Rachel Reeves, Japan’s Minister of Finance Kato Katsunobu, and World Bank Group President Ajay Banga. They exchanged views on macroeconomic developments, key agenda of the G20 Finance Track, and other issues including bilateral cooperation. China’s Vice Minister Liao Min also participated in the above meetings and discussions.