Xi pledges easier market access at G20 Osaka Summit

The Chinese president put forward a four-point proposal.

Firstly, he encouraged the G20 to stick to reform and innovation and explore driving force for growth.

We need to forcefully advance structural reform and strive to achieve high-quality growth through the development of digital economy, promoting connectivity, improving social security and other measures, he said.

Meanwhile, the group members need to create a favorable market environment, respect, protect and encourage innovation, and advocate international cooperation in innovation, Xi added.

Secondly, the president proposed that the G20 keep pace with the times and improve global governance.

We should strengthen the multilateral trade system and conduct necessary reforms of the World Trade Organization (WTO) to make it more effective in implementing its principles of opening markets and promoting development, Xi said.

He stressed the need to ensure that the financial safety net has enough resources, and that the global financial architecture has fairer representation.

He also urged the G20 to implement the Paris Agreement on Climate Change, and to improve energy, environmental and digital governance.

Thirdly, the Chinese president encouraged the G20 to actively tackle challenges and remove development bottlenecks.

China's initiative to jointly build the Belt and Road aims to mobilize more resources, strengthen connectivity, unleash driving force for growth, realize market alignment and incorporate more countries and regions into economic globalization, said Xi.

The G20 should continue to prioritize development in macroeconomic policy coordination and increase development input, he said.

Fourthly, Xi urged the G20 members to uphold the spirit of partnership and properly address differences.

The G20 members are at different stages of development, he said, stressing that the key to solving their divergences is consultation on the basis of equality, seeking common ground while reserving differences, managing divergences and expanding consensus with an attitude of mutual respect and mutual trust.