Xi Focus: Xi puts forward suggestions to boost global development, address governance difficulties

President Xi Jinping addresses the 16th G20 Leaders' Summit via video link in Beijing on Saturday, Oct 30, 2021. [Photo/Xinhua]

BEIJING -- President Xi Jinping on Saturday put forward five suggestions to boost global development and address governance difficulties in his remarks delivered at the 16th Group of 20 (G20) Leaders' Summit via video link.

First, Xi called for working in solidarity to combat COVID-19 and proposed a Global Vaccine Cooperation Action Initiative.

In the initiative, Xi urged efforts to strengthen vaccine R&D cooperation, provide more vaccines to developing countries, and encourage vaccine companies to transfer technology to developing countries.

"China is ready to work with all parties to enhance vaccine accessibility and affordability in developing countries and make positive contribution to building a global line of defense through vaccination," Xi noted.

Second, Xi called for strengthening coordination to promote recovery.

"Major economies should adopt responsible macroeconomic policies, prevent measures taken for themselves from entailing rising inflation, exchange rate fluctuations or mounting debts, avoid negative spillovers on developing countries, and ensure sound operation of the international economic and financial system," Xi said.

He also stressed the need to improve global economic governance system and rules and build an open world economy.

Third, Xi stressed embracing inclusiveness to achieve common development.

"We must take a people-centered approach and make global development more equitable, effective and inclusive, so that no country will be left behind," Xi said, calling for active participation of more countries in the Global Development Initiative.

Fourth, Xi urged efforts to pursue innovation to tap growth potential.

"Forming exclusive blocs or even drawing ideological lines will only cause division and create more obstacles, which will do no good but only harm to scientific and technological innovation," he said.

China has decided to apply to join the Digital Economy Partnership Agreement, and China stands ready to work with all parties for the healthy and orderly development of digital economy, Xi noted.

In the final suggestion, Xi stressed promoting harmonious co-existence to achieve green and sustainable development.

Developed countries need to lead by example on emissions reduction and deliver on their commitments of climate financing, and provide technology, capacity-building and other support for developing countries, Xi said.

In his conclusion remarks, Xi called for joint efforts to dispel "the dark clouds" of the pandemic at an early date and jointly build a better future for all.