G20 Summit to help bolster global economic recovery

By CAO DESHENG (Chinadaily.com.cn) 15:40, September 05, 2023

Premier Li Qiang will attend the 18th G20 Summit to be held in New Delhi, India on September 9 and 10, when leaders and representatives of the Group of 20 nations will gather to discuss measures to boost global economic recovery.

Li was invited by the government of India, the rotating presidency of G20 for 2023, Foreign Ministry spokesperson Mao Ning said on Monday.

The summit takes place at a time when the global economy is facing increased downward pressure, and there are growing difficulties in achieving sustainable development worldwide amid mounting challenges such as the climate change and the ongoing Ukraine crisis.

"As the primary forum for international economic cooperation, the G20 nations should strengthen partnerships and collectively address prominent challenges in the international economic and development fields, and actively contribute toward promoting global economic recovery, growth and sustainable development," Mao said at a regular news conference.

China hopes that the New Delhi Summit will help build up consensus, send a message of confidence to the world, and promote prosperity and development, she added.

The G20 comprises 19 countries — Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkiye, United Kingdom and United States — and the European Union, representing around 85 percent of the global GDP, over 75 percent of the global trade, and about two-thirds of the world population.

It is the premier intergovernmental forum for international economic cooperation, and plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.

As the host of this year's summit, India gives priority to green development, climate finance and lifestyle for environment, accelerated, inclusive and resilient growth, accelerating progress on sustainable development goals, technological transformation and digital public infrastructure, multilateral institutions for the 21st century, as well as women-led development.

China, as the strong advocate for true multilateralism, is expected to use the summit to underline the need to refocus on the issue of development as the world is confronting multiple crises and challenges, observers said.

As the United Nations 2030 Agenda for Sustainable Development is due for a midterm review this year, it is important to uphold true multilateralism, forge a global development partnership, and create a secure and stable international environment for shared development, they said.

On multiple occasions, China has called on the countries from around the world to practice the Global Development Initiative, proposed by President Xi Jinping, to boost international solidarity and cooperation to promote shared growth globally and jointly address the challenges the world is facing.

(Web editor: Zhong Wenxing, Liang Jun)


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