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China to uphold multilateralism, oppose protectionism at G20 Osaka summit

Chinese President Xi Jinping attends a welcome ceremony at the Great Hall of the People in Beijing on May 28, 2019. AFP/Nicolas Asfouri. Sketched by the Pan Pacific Agency.

Pan Pacific Agency | COMMUICATION AGENCY FOR PACIFICA REGIONS

BEIJING, Jun 25, 2019, Xinhua. China is ready to work with relevant sides to firmly uphold multilateralism, and oppose unilateralism and protectionism at the upcoming Group of Twenty (G20) summit in Osaka, Japan, said senior officials in Beijing Monday, reported the Xinhua.

XI’S SCHEDULE

Chinese President Xi Jinping will attend the summit, marking the seventh consecutive time for him to attend the G20 summit. In September 2016, Xi chaired the G20 summit in Hangzhou, the capital city of east China’s Zhejiang Province.

“It shows that China attaches great importance to G20 cooperation and global economic governance,” Assistant Minister of Foreign Affairs Zhang Jun told a press briefing.

During the Osaka summit, President Xi will participate in discussions on topics ranging from world economy and trade, the digital economy, inclusive and sustainable growth, infrastructure, climate, energy to environment, elaborating on China’s standpoint toward world economic situation and offering solutions for the current problems, according to Zhang.

The president is also scheduled to attend a series of multilateral meetings on the sidelines of the summit, Zhang said, including an informal meeting of the BRICS leaders, an informal meeting of leaders of China, Russia and India, as well as a meeting with African leaders.

Relevant sides will step up communication and coordination on major issues such as cooperation between emerging markets and developing countries and implementation of the UN 2030 Agenda for Sustainable Development.

Xi is also expected to hold bilateral meetings with several national leaders during the summit, the assistant minister said.

MULTILATERALISM, NOT PROTECTIONISM

As unilateralism and protectionism have seriously impacted the international economic order, the world economy has been facing increased risks and uncertainties. Given the situation, China is committed to striving for positive results of the Osaka summit.

“We are ready to work with all sides to firmly safeguard multilateralism, safeguard international order based on international law, and safeguard international fairness and justice,” Zhang told reporters, saying both the host country Japan and the international community are looking forward to Xi’s participation in the summit.

China will uphold the spirit of partnership, step up policy coordination and work for unity and cooperation at the summit, according to Zhang.

Echoing Zhang, Vice Commerce Minister Wang Shouwen told the press briefing that China is expecting the upcoming summit to further build up consensus on supporting the multilateral trading system as well as opposing unilateralism and protectionism.

“China supports necessary reforms of the World Trade Organization (WTO) to enhance its authority and effectiveness,” said Wang.

OPENNESS AND INCLUSIVENESS

The senior official reaffirmed China’s stance on building a free and open trade and investment policy environment.

China is ready to work with all sides to create a “free, fair, non-discriminatory, transparent, predictable and stable” trade and business environment for companies and investors from all countries, said Wang.

As for inclusive and sustainable growth, Wang said that China hopes the Osaka summit will advance the in-depth integration of trade, investment and the digital economy in order to benefit more nations and more peoples.

“(We) believe that the Osaka summit will … push forward the economic globalization in the direction of greater openness, inclusiveness, universal welfare, balance and win-win results,” said Wang.

Vice Finance Minister Zou Jiayi and Deputy Governor of the People’s Bank of China Chen Yulu also briefed journalists on China’s standpoint on G20 fiscal and financial cooperation and emphasized global coordination’s role in addressing challenges.

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