Chinese Finance Minister Liu Kun Photo: cnsphoto

 
Chinese Finance Minister Liu Kun said that the G20 should promote multi-channel mobilization for enhancing financing and support a more inclusive and resilient international development. This statement was made during the G20 Finance Ministers and Central Bank Governors meeting in India, according to a statement released by the ministry on Tuesday.

Liu noted that the G20 should foster a more inclusive and resilient global development, as true development hinges on the progress of all countries. He emphasized the importance of constructing an open world economy and maintaining a stable, smooth global supply chain. He also urged for solutions to meet the financing demands of developing economies tackling climate change and help them achieve the UN's 2030 Agenda for Sustainable Development.

Liu stressed that the G20 should promote multi-channel mobilization for enhancing financing, utilizing innovative financing methods to increase funding scales. At the same time, he underlined the need for objective analysis of the causes of debt for vulnerable countries, stating that development is the root solution for tackling such debts.

Liu appealed to multilateral development banks to mobilize new additional concessional resources and discuss the replenishment of capital in due course. This will help enhance their financial strength and better assist developing countries in coping with short-term crises and achieving sustainable development.

Liu stated that China is ready to maintain a pragmatic and open attitude, actively participate in the work related to the two-pillar solution, support the global community in enhancing tax transparency, and promote the construction of a modern, fair, and sustainable international tax system.

Liu met with several global senior officials, including Australian Treasurer Jim Chalmers, World Bank President Ajay Banga, and IMF Managing Director Kristalina Georgieva, among others, according to the statement.

The meeting, which took place from Monday to Tuesday, focused on topics such as the global economy and health, sustainable finance, infrastructure, the international financial architecture, and international taxation.