Xi hails ‘im­por­tant’ achieve­ments

China Daily (USA) - - FRONT PAGE - By WANG YIQING and ZHANG YUNBI in Hangzhou

Lead­ers of ma­jor economies reached con­sen­sus dur­ing the G20 Sum­mit on seek­ing work­able so­lu­tions for global growth and de­vel­op­ment, a con­sen­sus that one an­a­lyst de­scribed as hav­ing China’s “dis­tinc­tive stamp”.

In his con­clud­ing re­marks, Pres­i­dent Xi Jin­ping said sum­mit par­tic­i­pants reached “im­por­tant con­sen­sus” on such G20 tasks as strength­en­ing pol­icy co­or­di­na­tion, break­ing a new path for growth, achiev­ing more ef­fi­cient and ef­fec­tive global eco­nomic and fi­nan­cial gov­er­nance, boost­ing in­ter­na­tional trade and in­vest­ment and en­hanc­ing anti­graft ef­forts.

Be­sides tack­ling reg­u­lar chal­lenges, such as pro­mot­ing in­no­va­tion to pro­vide new en­gines for global eco­nomic growth, world lead­ers at the sum­mit, which ended on Mon­day in Hangzhou, Zhe­jiang prov­ince, em­pha­sized in­clu­sive growth and de­vel­op­ment of less-de­vel­oped coun­tries.

Xi called this progress “ground­break­ing”.

“For the first time, we have given pri­or­ity to de­vel­op­ment in the global macro-pol­icy frame­work,” a move that will “help re­duce in­equal­ity and im­bal­ance in global de­vel­op­ment, de­liver tan­gi­ble ben­e­fits to peo­ple of the de­vel­op­ing world, make im­por­tant progress to­ward re­al­iz­ing the (United Na­tions’) Sus­tain­able De­vel­op­ment Goals by 2030 and con­trib­ute to the com­mon de­vel­op­ment of mankind”, the pres­i­dent said.

We are con­fi­dent that, through the joint ef­forts of all par­ties, we can bring the world econ­omy back to a strong, sus­tain­able, balanced and in­clu­sive growth track.”

Pres­i­dent Xi Jin­ping

Su Ge, pres­i­dent of the China In­sti­tute of In­ter­na­tional Stud­ies, said the con­sen­sus shows that China has played a sig­nifi role in con­tribut­ing its ideas to global gov­er­nance.

“It has the dis­tinc­tive stamp of China, although the out­comes re­sult from con­tri­bu­tions of all G20 mem­bers and in­ter­na­tional in­sti­tu­tions,” Su said, adding that the sum­mit was not a Chi­nese solo or duet, but rather a sym­phony.

He said the out­comes of the G20 Sum­mit re­flect the di­rec­tion of the G20 re­form in serv­ing the com­mon in­ter­ests of all.

“The rise of the G20 comes from the fail­ure of tra­di­tional or­ga­ni­za­tions, such as the IMF and the World Bank, in han­dling global eco­nomic and fi­nan­cial crises,” said Zhu Jiejin, a re­searcher of global gov­er­nance stud­ies at Fu­dan Uni­ver­sity.

“The G20 mech­a­nism is quite flex­i­ble, and since the world eco­nomic sit­u­a­tion of­ten changes, flex­i­bil­ity is the big­gest ad­van­tage of the G20 in han­dling cri­sis,” Zhu said.

“China has given the pre­scrip­tion that the world economies should not form small in­ter­est groups, but should use the G20 as a com­mon gov­er­nance plat­form to step to­ward a com­mu­nity of com­mon des­tiny,” said Wei Jian­guo, vice-pres­i­dent of the China Cen­ter for In­ter­na­tional Eco­nomic Ex­changes.

FENG YONGBIN / CHINA DAILY

Pres­i­dent Xi Jin­ping ad­dresses the media on Mon­day af­ter the G20 Sum­mit ended in Hangzhou, Zhe­jiang prov­ince.

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