Chinese premier urges G20 to uphold free trade, build open world economy

JOHANNESBURG -- Chinese Premier Li Qiang on Saturday urged the Group of 20 (G20) economies to stay committed to solidarity, firmly uphold free trade and build an open world economy in the face of a sluggish global economic recovery.

Li made the remarks while addressing the first session of the 20th G20 Summit in Johannesburg, which focused on inclusive and sustainable economic growth and was chaired by South African President Cyril Ramaphosa.

Chinese President Xi Jinping pointed out at the 17th G20 Summit that solidarity is strength, but division leads nowhere, Li said.

Over the years, G20 members from different regions and with different systems and cultures have managed to overcome one challenge after another and promote global progress and development, thanks to the spirit of solidarity, he added.

Today, the world economy is once again confronted with major challenges, marked by a rise in unilateralism and protectionism, as well as escalating trade restrictions and confrontations, Li said.

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

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

The Chinese premier called for concerted efforts to properly handle disputes and frictions through consultation on the basis of equality when facing differences and contradictions.

He also stressed the importance of seeking common ground while reserving differences, actively pursuing the most extensive common interests, and properly addressing each other's reasonable concerns.

Li urged the G20 economies, when facing difficulties in governance, to advance with the times and take the lead in 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 noted, stressing China's endeavor to promote common development among all countries.

China supports the reduction of debts in developing countries, and has jointly initiated with South Africa a cooperative initiative to support Africa's modernization, Li said, adding that China will also establish the Institute of Global Development.

Leaders attending 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, while instability and uncertainty have kept rising.

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, so as to promote a strong, balanced, inclusive and sustainable growth.