Wang Yi: The Two Major Platforms of the "Belt and Road" and G20 Can Coordinate and Facilitate Each Other

On May 24, 2017, Foreign Minister Wang Yi and Vice Chancellor and Foreign Minister Sigmar Gabriel of Germany jointly met the press after talks in Beijing. A journalist asked that how China and Germany will conduct cooperation under the two major global mechanisms of the “Belt and Road” initiative and the G20, and how China views the role of the two mechanisms in propelling the world economic development.

Wang Yi said that last year, China successfully held the G20 Hangzhou Summit, from which a series of innovative achievements were made. Erewhile, China launched the Belt and Road Forum for International Cooperation (BRF) in Beijing, which injected fresh impetus into the rebalance of globalization, and made new contributions to the joint construction of a community of shared destiny for mankind. China thanks the German side for its support to the G20 Hangzhou Summit and the BRF. In return, the Chinese side will spare no efforts to support Germany in well hosting the G20 Hamburg Summit in this July.

Wang Yi also said that the G20 is the most significant platform for global economic governance, while the joint construction of the “Belt and Road” is the most influential initiative with the largest scale in the contemporary world. There do exist certain differences in their form and content, however, there are many similarities and connections in their concepts and goals. For example:

The “Belt and Road” initiative commits to facilitating all countries to reinforce the alignment of development strategies and policy coordination, so as to form cooperation with coordinated development, which is in line with the G20’s goal of promoting global macroeconomic policy coordination.

The “Belt and Road” initiative proposes to enhance infrastructure connectivity, unimpeded trade and financial integration, whereby tapping into new driving force for world economic growth and coping with major challenges facing the global economy. The notion coincides with the G20’s goal of facilitating the vigorous and sustainable growth of world economy.

The “Belt and Road” initiative advocates constructing an open world economy, implementing the 2030 Agenda for Sustainable Development, and addressing the problem of uneven global development, which echoes with the G20’s endeavor to reinforce global economic governance.

We believe that the advancement of the “Belt and Road” initiative will bring a broader vision and strong impetus to the process of the G20 in the global range. We hope that the two major platforms could supplement, coordinate and facilitate each other and jointly play a leading role for the healthy development of world economy, and make respective contributions to the magnificent goal of constructing a community of shared destiny for mankind.

(From the MInistry of Foreign Affairs of China)