Chinese President Xi Jinping on Monday outlined China’s eight initiatives for global development during his remarks at Session I of the 19th G20 Summit on Fight Against Hunger and Poverty in Rio de Janeiro.
Pursuing High-Quality Belt and Road Cooperation: China is advancing the development of a multidimensional Belt and Road connectivity network, emphasizing the creation of a green Silk Road and empowering a digital Silk Road. This includes an additional 700 billion yuan ($96.7 billion) in financing and an 80 billion yuan ($11.1 billion) injection into the Silk Road Fund.
Implementing the Global Development Initiative: Building on over 1,100 development projects already in operation, China is ensuring the Global South research center is fully operational. The nation commits to utilizing the $20 billion development funds to support developing countries in areas such as poverty reduction, food security, and the digital economy.
Supporting Development in Africa: Following the Summit of the Forum on China-Africa Cooperation held in September, China has unveiled 10 partnership actions to collaborate with Africa in advancing modernization over the next three years, committing 360 billion yuan ($49.7 billion) in financial support.
Enhancing International Cooperation on Poverty Reduction and Food Security: China has decided to join the Global Alliance Against Hunger and Poverty, supports the G20 in continuing to convene the Development Ministerial Meeting, and remains a committed host of the International Conference on Food Loss and Waste.
Promoting Open Science Cooperation: Alongside Brazil, South Africa, and the African Union, China is proposing an Initiative on International Cooperation in Open Science to help the Global South access global advancements in science, technology, and innovation.
Facilitating Practical Cooperation for the Global South: China supports the G20 in utilizing outcomes such as the Roadmap to Increase Investment in Clean Energy in Developing Countries and the High-Level Principles on Bioeconomy. The country backs the work of the Entrepreneurship Research Center on G20 Economies based in Beijing and supports cooperation on digital education and the digitization of museums and ancient archives.
Implementing the G20 Anti-Corruption Action Plan: China is strengthening cooperation with fellow developing countries in fugitive repatriation and asset recovery, denial of safe haven, and anti-corruption capacity building.
Pursuing High-Standard Opening Up: China is unilaterally opening its doors wider to the least developed countries (LDCs), announcing the decision to give all LDCs having diplomatic relations with China zero-tariff treatment for 100 percent tariff lines. From now to 2030, China’s imports from other developing countries are expected to exceed $8 trillion.
The Global Alliance Against Hunger and Poverty was launched at the first session of the summit, marking a significant step towards international cooperation in addressing these critical issues.
(Cover image: A poster welcomes attendees to the G20 Summit in Rio de Janeiro, Brazil, November 17, 2024. /CFP)
