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We're in favour of WTO reforms, committed to promoting global growth: China

Geng Shuang/ 08 Dec 18 | 06:49 PM

The 13th Summit of the Group of 20 in Buenos Aires, Argentina has just concluded, which adopted the G20 Leaders' Declaration. What is China's comment on the outcomes of the summit?

The 2018 G20 Buenos Aires Summit was held against the backdrop of fast-changing international landscape, rising protectionism and unilateralism and the world economy facing both opportunities and challenges. The participants discussed the major issues concerning the world economy, adopted the leaders' declaration, sent out the positive message and injected confidence and vitality into the global market..

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China believes that the outcomes of this G20 Summit can be summed up as the following aspects:

First, we remain committed to promoting global growth. All relevant parties agreed to step up dialogue and actions to enhance confidence and safeguard against downside risks. We reaffirmed our pledge to use all policy tools to achieve strong, sustainable, balanced and inclusive growth. We demonstrated our positive will to resolve differences through consultation and stay united to address challenges.

Second, we remain committed to upholding the multilateral trading system. All relevant parties stressed that international trade and investment are important engines for economic growth, innovation, job creation and development and commended the outstanding contributions the multilateral trading system has made to promoting global growth. Meanwhile, they all said that there is still room for the multilateral trading system to make improvements and they supported necessary reforms of the World Trade Organization.

Third, we remain committed to improving global economic governance. All relevant parties reaffirmed their commitment to implementing the G20 Action Plan on the 2030 Agenda for Sustainable Development adopted at the G20 Hangzhou Summit and other important initiatives, advancing the reform of the International Monetary Fund, stepping up cooperation on such global issues as education, public health and food security and further improving global economic governance.

Fourth, we remain committed to cooperating to address climate change. Most members reaffirmed their strong political commitment to implementing the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement and sent out a strong signal to uphold multilateralism and promote the international cooperation on addressing climate change, which injects strong political impetus into the 24th session of the Conference of the Parties (COP 24) to the UNFCCC.

We have noted that the consensus on trade issues was reached at the just concluded China-US summit. There are some differences between the press release issued by the Chinese side and the statement released by the US side. What is your response to that?

On December 1, President Xi Jinping and President Trump held a successful meeting on the sidelines of the G20 Buenos Aires Summit and reached important consensus, which points out the direction for the China-US relations going forward. The Chinese side has issued the readout and I would refer you to that.

The two heads of state reached consensus on trade issues and agreed to stop levying additional tariffs. The two sides also put forth a series of constructive proposals on how to resolve the existing differences and problems. China is willing to open its market, expand import and help mitigate the relevant China-US trade issues in light of the process of its new round of reform and opening-up and the needs of the domestic market and its people. Meanwhile, China points out that reaching a mutually beneficial and concrete agreement is the basis and prerequisite for China to take relevant active actions towards the US.

The informal BRICS meeting and Russia-India-China (RIC) meeting were held on the sidelines of the G20 summit. Could you offer more information on these meetings? How do you comment on them?

The informal BRICS meeting and Russia-India-China (RIC) meeting were held on the sidelines of the G20 summit in Buenos Aires, Argentina. President Xi Jinping attended these meetings and relevant press readouts have already been released. Here I would like to give you a recap.

During the informal BRICS meeting, the five BRICS leaders reaffirmed their commitments to implementing the outcomes of previous BRICS summits, enhancing solidarity and cooperation, further deepening and substantiating BRICS cooperation in various fields, and striving to play a bigger role in safeguarding international peace and security, promoting global growth, and improving global governance.

The BRICS countries also expressed their unanimous support for the WTO-centered and rules-based multilateral trading system and called on all WTO members to stand against unilateralist and protectionist measures which run counter to WTO rules. The BRICS countries are in favor of reforming the WTO, upholding the core values and basic principles of the WTO, and making sure that the WTO reflects the interests of all members, especially developing members.

During the RIC meeting, the three leaders agreed that Russia, China and India are all major countries of significant influence and each other's important strategic partners for cooperation. Our three countries share a wide range of common interests and similar development goals and shoulder important responsibilities for the future of the region and the world. The three leaders agreed to enhance coordination, and strengthen cooperation trilaterally to jointly contribute to world peace.

Against the backdrop of a complicated and fluid international landscape and world politics, economy, trade and environment facing severe challenges from unilateralism and protectionism, these meetings gave out a strong message for supporting multilateralism, stepping up international cooperation and promoting mutual benefit and win-win results. 

Edited excerpts from Chinese Foreign Ministry Spokesperson Geng Shuang's regular press conference on December 3, 2018 in Beijing

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