At the recently concluded 19th G20 Summit in Brazil, China reaffirmed its dedication to fostering a fair and equitable global governance system. As the world's second-largest economy and the largest developing country, China is taking significant steps to enhance international cooperation and development.
China introduced eight major actions aimed at promoting common development, including the inclusion of Global South countries, green development initiatives, and the establishment of a market-sharing open world. These actions underscore China's commitment to building a multilateral world and maintaining global peace and development.
In a notable move, Pan Gongsheng, governor of the People’s Bank of China, urged Asian countries to advocate for the quota reform of the International Monetary Fund (IMF). This initiative aims to better reflect the economic contributions of Asian nations and amplify the voices of emerging markets and developing countries within the IMF framework.
China has also emphasized the need for reform within the United Nations Security Council. Fu Cong, China’s permanent representative to the UN, highlighted the importance of enhancing the representation and decision-making power of developing countries. Fu criticized the use of veto power by permanent members, pointing out that it hampers the Council's ability to address critical issues effectively.
Beyond diplomatic efforts, China continues to support global development through initiatives like the Belt and Road Initiative (BRI) and the Global Development Initiative (GDI). Since its launch in 2013, the BRI has resulted in over 200 cooperation agreements with more than 150 countries and 30 international organizations across five continents. Similarly, the GDI has garnered support from over 100 countries and international organizations, fostering shared development opportunities.
At the G20 Summit, China pledged to utilize $20 billion in development funds to aid developing countries in areas such as poverty reduction, food security, and the digital economy. Additionally, the Global Security Initiative (GSI), launched in 2022, promotes a security framework based on the UN Charter, emphasizing cooperation, sustainability, and dialogue to tackle both traditional and emerging security challenges.
China's proactive role in mediating international conflicts further exemplifies its commitment to global stability. Notably, China proposed a 12-point plan to resolve the Ukraine crisis and facilitated the 2023 Saudi-Iran reconciliation, contributing to regional peace and stability.
Through these multifaceted efforts, China is positioning itself as a key player in reforming global governance, advocating for a more inclusive and representative international system that benefits all nations.
Reference(s):
cgtn.com
