Xi calls on G20 to join hands in forging high-quality global economy

OSAKA, Japan, June 28 (Xinhua) -- Chinese President Xi Jinping here on Friday called on the Group of 20 (G20) major economies to explore driving force for growth, improve global governance, remove development bottlenecks, and properly address differences.

Xi also pledged that China will further open up its market, proactively expand imports, continuously improve its business environment for foreign enterprises, and press ahead with negotiations on economic and trade deals.

Xi made the remarks while addressing the 14th G20 summit held in the Japanese city of Osaka.

Noting that the world economy is once again at a crossroads 10 years after the global financial crisis broke out, Xi said the G20 bears the responsibility to chart the course for the world economy and global governance at a crucial time, as well as to inject confidence into the market and bring hope to the people.

The G20 members should respect objective laws and give play to the role of market, so as to adapt to the requirement of the development of the productive force, said the Chinese president.

He urged the G20 to follow the major trend of development, embrace development opportunities with greater openness, and seek win-win results with better cooperation, so as to lead economic globalization toward the right direction.

Xi also called on the G20 members to focus on shared interests and long-term development, and commit to realizing lasting peace and prosperity for the world and a satisfying life for people across the globe.

The Chinese president put forward a four-point proposal.

Firstly, he encouraged the G20 to stick to reform and innovation and explore driving force for growth.

We need to forcefully advance structural reform and strive to achieve high-quality growth through the development of digital economy, promoting connectivity, improving social security and other measures, he said.

Meanwhile, the group members need to create a favorable market environment, respect, protect and encourage innovation, and advocate international cooperation in innovation, Xi added.

Secondly, the president proposed that the G20 keep pace with the times and improve global governance.

We should strengthen the multilateral trade system and conduct necessary reforms of the World Trade Organization (WTO) to make it more effective in implementing its principles of opening markets and promoting development, Xi said.

He stressed the need to ensure that the financial safety net has enough resources, and that the global financial architecture has fairer representation.

He also urged the G20 to implement the Paris Agreement on Climate Change, and to improve energy, environmental and digital governance.

Thirdly, the Chinese president encouraged the G20 to actively tackle challenges and remove development bottlenecks.

China's initiative to jointly build the Belt and Road aims to mobilize more resources, strengthen connectivity, unleash driving force for growth, realize market alignment and incorporate more countries and regions into economic globalization, said Xi.

The G20 should continue to prioritize development in macroeconomic policy coordination and increase development input, he said.

Fourthly, Xi urged the G20 members to uphold the spirit of partnership and properly address differences.

The G20 members are at different stages of development, he said, stressing that the key to solving their divergences is consultation on the basis of equality, seeking common ground while reserving differences, managing divergences and expanding consensus with an attitude of mutual respect and mutual trust.

The Chinese president arrived here Thursday for the G20 summit at the invitation of Japanese Prime Minister Shinzo Abe.