Xi Jinping's speech at the first phase of the 17th G20 Summit (full text)

To meet the challenges of the times and build a better future
-- At the 17th G20 Leaders Summit
Speech at the first phase of the session
(15 November 2022, Bali)
the People's Republic of China President Xi Jinping

Honorable President Joko,
Dear colleagues:
It gives me great pleasure to attend the G20 Summit in Bali. I would like to thank President Joko and the Government of Indonesia for their thoughtful arrangements for the convening of the summit. As the chair of the meeting, Indonesia has played an important role in promoting cooperation among the G20. I highly appreciate this.
The world today is undergoing major changes unseen in a century. This is a change in the world, a change in the times, and a change in history. At present, the neo-coronary pneumonia epidemic has been repeatedly delayed, the vulnerability of the world economy has become more pronounced, the geopolitical situation is tense, global governance is seriously lacking, and multiple crises such as food and energy are superimposed, and human development is facing major challenges. In the face of these challenges, all countries should establish a sense of a community of human destiny, advocate peace, development, cooperation and win-win results, let unity replace division, cooperation replace confrontation, tolerance replace exclusion, and jointly solve the problem of the times of "what is wrong with the world and what should we do", tide over the difficulties together and create the future together.
The members of the G20 are all major countries in the world and the region. They should reflect the responsibility of major countries, play an exemplary role, and seek development for all countries, the well-being of mankind, and progress for the world.
-- We need to promote more inclusive global development. Unity is strength, and division has no way out. We live in the same global village and should be in the same boat in the face of various risks and challenges. The use of ideology to draw lines and engage in bloc politics and camp confrontation will only fragment the world and hinder global development and human progress. human civilization has entered the 21st century, and the cold war mentality has long been out of date. We should work together to open up a new realm of win-win cooperation.
Countries should respect each other, seek common ground while reserving differences, coexist peacefully, and promote the construction of an open world economy. They should not beggar their neighbors, build "small courtyards and high walls", and engage in closed and exclusive "small circles".
I have always advocated that the G20 should adhere to the original intention of unity and cooperation, inherit the spirit of helping each other in the same boat, and adhere to the principle of consensus. As the Indonesian proverb says, sugar cane grows at the same point and citronella grows in clumps. Division and confrontation are not in the interests of any party, and unity and symbiosis is the right choice.
-- We need to promote more inclusive global development. The common development of all countries is the real development. World prosperity and stability cannot be based on the poor getting poorer and the rich getting richer. Every country wants to live a good life, and modernization is not the prerogative of any country. Countries that are ahead should genuinely help other countries develop and provide more global public goods. If a big country wants to have the responsibility of a big country, it should all contribute to the cause of global development.
The purpose of my global development initiative is to focus on the long-term goals and practical needs of global common development, build international consensus on promoting development, cultivate new momentum for global development, and promote the common development and progress of all countries in the world.
Over the past year, the Group of Friends of Global Development Initiatives has more than 60 members. We have established the Global Development and South-South Cooperation Fund, will increase investment in the China-United Nations Peace and Development Fund, formulate a list of practical cooperation, establish an open project library, clarify the roadmap for the initiative, and promote it with more than 100 countries and international organizations. This initiative will provide new assistance for the implementation of the United Nations 2030 Agenda for Sustainable Development. China has submitted 15 projects to the practical cooperation project library of the Bali Summit and participated in five other projects, which will be implemented in earnest with all members.
-- We need to promote more resilient global development. Economic globalization has encountered headwinds, and the world economy is facing the risk of recession. Everyone has a hard time, and developing countries are the first to bear the brunt. We need to pay more attention to the issue of development than ever before. The Bali summit established the cooperation vision of "common recovery and strong recovery", and sent a positive signal that the G20 supports the development of developing countries and avoids the differentiation and unbalanced recovery of the world economy. We should build a partnership for global economic recovery, give priority to development and take the people as the center, always keep in mind the difficulties of developing countries and take care of their concerns. China supports the African Union in joining the G20.
All parties should continue to deepen international cooperation in the fight against the epidemic, enhance the accessibility and affordability of vaccines, drugs and means of diagnosis and treatment in developing countries, and create a favourable environment for economic recovery. It is necessary to curb global inflation and resolve systemic economic and financial risks, especially in developed economies, to reduce the negative spillover effects of monetary policy adjustments and stabilize debt at a sustainable level. The International Monetary Fund should accelerate the process of transferring special drawing rights to low-income countries. International financial institutions and commercial creditors, as the main creditors of developing countries, should participate in debt relief for developing countries. China has fully implemented the G-20 debt relief initiative, which is the largest among the G-20 members, and has participated in the debt treatment of the G-20 Common Framework for Follow-up Debt Treatment of the G-20 Debt Mitigation Initiative, providing support for the developing countries concerned to tide over the difficult times.
Global trade, digital economy, green transformation and anti-corruption are important factors for global development. We should continue to uphold the multilateral trading system with the World Trade Organization at its core, actively promote the reform of the World Trade Organization, promote trade and investment liberalization and facilitation, and promote the building of an open world economy. China has put forward an action plan for digital innovation cooperation at the G20, and looks forward to working with all parties to create an open, fair and non-discriminatory digital economic development environment and narrow the digital divide between North and South countries. To address the challenges of climate change and transition to green and low-carbon development, we must, in line with the principle of common but differentiated responsibilities, provide support to developing countries in terms of capital, technology and capacity-building, and actively carry out green financial cooperation. International cooperation against corruption is very important. G20 members should adhere to zero tolerance for corruption, strengthen international cooperation in the pursuit of fugitives and stolen goods, and not become a "safe haven" for corrupt elements and assets ".
Global development is inseparable from a peaceful and stable international environment. To this end, I have put forward the Global Security Initiative, which aims to work with you to carry forward the spirit of the Charter of the United Nations, adhere to the principle of indivisibility of security, adhere to the concept of common, comprehensive, cooperative and sustainable security, advocate the elimination of conflicts through negotiation, resolve disputes through consultation, and support all efforts conducive to the peaceful settlement of crises.
Colleagues!
Food and energy security are the most pressing challenges for global development. The root cause of the current crisis is not production and demand problems, but supply chain problems and interference with international cooperation. The solution lies in countries, under the coordination of the United Nations and other multilateral international organizations, strengthening market supervision cooperation, building commodity partnerships, building an open, stable and sustainable commodity market, and jointly unblocking the supply chain and stabilizing market prices. We must resolutely oppose the politicization, instrumentalization, and weaponization of food and energy issues, revoke unilateral sanctions, and remove restrictions on related scientific and technological cooperation. The process of reducing fossil energy consumption and transitioning to clean energy must consider all factors in a balanced manner to ensure that the economy and people's livelihood are not affected during the transition process. The food and energy security risks of developing countries are more prominent. The G20 should take this matter to heart and provide necessary support in production, purchasing and storage, capital, and technology. The United Nations has established the "Global Food, Energy and Financial Crisis Response Group", and the G20 should respond to it.
For a long time, China has made important contributions to world food and energy security. This year, China, together with six partner countries including Indonesia and Serbia, launched the "International Cooperation Initiative on Building a Stable and Resilient Industrial Chain and Supply Chain", advocated the establishment of a global clean energy partnership with many countries, and put forward an international food security cooperation initiative in the G20. We look forward to deepening cooperation with all parties.
Colleagues!
The Communist Party of China recently held its 20th National Congress, which planned the goals, tasks and major policies for the development of the party and the country in the next five years and beyond. China will unswervingly follow the path of peaceful development, unswervingly deepen reform, expand opening up, and unswervingly promote the great rejuvenation of the Chinese nation with Chinese-style modernization. A China that is constantly moving towards modernization will surely provide more opportunities for the world, inject stronger impetus into international cooperation, and make greater contributions to the progress of all mankind!
Thank you all.