Li urges G20 to build fairer trade order

Premier Li Qiang has called for solidarity and cooperation among the Group of 20 economies to tackle global challenges, and urged efforts to firmly uphold free trade and build an open world economy amid a sluggish economic recovery.

Li made the remarks while addressing the 20th G20 Summit, which was held in Johannesburg, South Africa, on Saturday and Sunday.

Cyril Ramaphosa, president of South Africa, which holds the rotating presidency of G20, chaired the summit. It is the first time that the group of economies, comprising 19 countries as well as the European Union and the African Union, held its summit on African soil.

Themed "Solidarity, Equality and Sustainability", this year's summit was divided into three sessions, focusing on inclusive and sustainable economic growth, building a resilient world, and fostering a fair and just future for all.

Addressing the first session, Premier Li pointed out that the global economy is once again confronted with major challenges, marked by a rise in unilateralism and protectionism, along with escalating trade restrictions and confrontations.

Divergent interests among parties and weaknesses in global cooperation mechanisms have become prominent factors hindering international solidarity, he said.

Li urged the G20 to face the problems squarely, explore solutions, and help bring all parties back on the track of solidarity and cooperation.

Concerted efforts should be made to properly handle disputes and frictions through consultations on the basis of equality when facing differences and contradictions, he said, underlining the need to seek common ground while reserving differences, actively pursue the most extensive common interests, and properly address each other's reasonable concerns.

Emphasizing the importance of upholding multilateralism, Li called for accelerating the reform of institutions, including the World Bank, the International Monetary Fund and the World Trade Organization.

He also called for efforts to enhance the voice of developing countries and build a fairer and more open international economic and trade order.

China has released an action plan for implementing the G20 Initiative on Supporting Industrialization in Africa and Least Developed Countries, Li said, noting that China supports the reduction of debts in developing countries and has jointly launched with South Africa a cooperative initiative to support Africa's modernization.

China will also establish the Institute of Global Development to promote common development among all countries, Li added.

Common development

Leaders attending the first session of the summit said that over the past two decades, the G20 has become an important platform for the international community to meet challenges, share opportunities and seek common development.

Noting that today's world is facing multiple challenges and mounting instability and uncertainty, they called on G20 members, which are representatives of the world's major economies and emerging markets, to earnestly shoulder their responsibilities, strengthen solidarity and cooperation, safeguard multilateralism, and join forces to meet challenges.

The leaders also urged G20 members to safeguard the multilateral trading system with the WTO at its core, advance the reform of the global economic governance system, and bridge the development gap among countries, in order to promote a strong, balanced, inclusive and sustainable growth.

In his speech during the second session, Li called for strengthening cooperation in ecological and environmental protection to enhance development resilience, advancing collaboration in developing green energy, and intensifying cooperation on food security to ensure stable supply.

Declaration adopted

Addressing the third session, the premier emphasized that a new round of technological revolution and industrial transformation is accelerating, bringing unprecedented development opportunities to the world, while at the same time, creating new inequalities and development gaps.

Li urged the G20 economies to promote the widespread application and effective governance of artificial intelligence, foster mutually beneficial cooperation on and peaceful utilization of critical minerals, and strengthen support for the Global South in empowering development and livelihoods.

The summit adopted a leaders' declaration addressing climate change and other global challenges after it was drafted without the involvement of the United States. South Africa said there was "overwhelming consensus "for a summit declaration.

In his speech during the first session, Ramaphosa said the adoption of the declaration sends an important signal to the world that multilateralism can and does deliver.

Also on Saturday, Li met in Johannesburg with Italian Prime Minister Giorgia Meloni on the sidelines of the G20 Summit.

He said that China encourages more Italian companies to enter the Chinese market via platforms such as expositions, and expects Italy to provide a fair, transparent and nondiscriminatory business environment for Chinese enterprises to invest in Italy.

Meloni said that Italy welcomes more Chinese investment and encourages Italian companies to continue investing in China. Italy is willing to strengthen communication and coordination with China on multilateral platforms to jointly uphold multilateralism, she said.

During the summit, Li also had friendly exchanges with French President Emmanuel Macron, South Korean President Lee Jae-myung, Angolan President Joao Lourenco, Spanish Prime Minister Pedro Sanchez, and World Trade Organization Director-General Ngozi Okonjo-Iweala.