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Belt & Road Info: China to offer solutions to economic globalization at G20 Hamburg summit
7 Jul 2017

China will continue to offer its solutions to issues including economic globalization and sustainable world economic development at the upcoming 12th Group of 20 (G20) summit in Hamburg.

 

Chinese President Xi Jinping arrived in Berlin on July 4 for his second state visit to Germany. The president will also attend the G20Hamburgsummit scheduled for July 7-8.It will be Xi's fifth time participating in the G20 summit since becoming Chinese president in 2013.

 

The G20 Hamburg summit's theme--"Shaping an Interconnected World"--echoes that of the 2016 Hangzhou summit in China's Zhejiang Province, which is "Building an Innovative, Invigorated, Interconnected and Inclusive World Economy."

 

The Hamburg summit will focus on issues including global economic growth, trade, digital economy, energy and climate change.

 

Chen Fengying, former head of the World Economy Institute under the China Institutes of Contemporary International Relations, said that this signals the importance of interconnectivity for the further development of the world economy, which is faced with challenges including protectionism.

 

"China has all the time advocated open and inclusive economic growth, and the China-proposed Belt and Road Initiative has made great contributions to world economic development under the new conditions," Chen said, believing that Xi will continue to offer China's solutions to promote sound and sustainable development for the world economy.

 

From the G20 Hangzhou summit to the APEC Economic Leaders' Meeting in Lima in 2016, and from the annual meeting of the World Economic Forum (WEF) in Davos to the Belt and Road Forum (BRF) for International Cooperation in 2017, China's solutions to international economic cooperation and global economic governance, which highlight such key words as reform, innovation, opening up and inclusiveness, have gained widespread recognition and support in the world.

 

The Belt and Road Initiative, the most important public goods China is offering the world, has become a key carrier for the implementation of the Hangzhou Consensus which calls for more inclusive economic growth, trade and innovation.

 

In a signed article titled "To Make the World a Better Place" published on July 4 on mainstream German media, Xi says that the BRF held in May in Beijing, which aims to boost the alignment of development strategies and connectivity with relevant countries and regions for interconnected development, is highly consistent with the G20 Hamburg summit's theme.

 

Xi said, "The Belt and Road Initiative and cooperation under the G20 framework can complement and boost each other."

 

Shi Mingde, Chinese ambassador to Germany, believes that the G20, as the most important platform for global economic governance, has many similarities and connections in concepts and goals with the Belt and Road Initiative, which is the largest and most influential initiative in the contemporary world.

 

"As a result, implementation of the initiative will provide broader perspectives for and strong impetus to G20 cooperation," Shi stressed, hoping that the two platforms can complement, coordinate and facilitate each other.

 

China and Germany share all-round strategic partnership, and as the G20 summit host respectively for 2016 and 2017, they will make joint efforts to make the Hamburg summit a success and contribute to global economic governance, Shi said.

 

Germany was among the first Western countries to show support for the Belt and Road Initiative, and a founding member of the China-proposed Asian Infrastructure Investment Bank (AIIB).

 

There is great potential for cooperation between China and Germany in various areas, including the alignment of China's "Made in China 2025" plan and Germany's "Industry 4.0" strategy, tourism and third-party markets, according to Shi.

 

Source: Belt and Road Portal