China’s Finance Minister Addresses G20 on Global Economic Concerns

China’s finance minister conveyed to a G20 gathering that the present momentum of global economic expansion is insufficient. According to a ministry statement released on Friday, he noted that tariff and trade conflicts are further undermining economic and financial stability.

Lan Foan urged all participants to enhance the global economic and financial framework by reinforcing multilateral collaboration.

During his address at the Washington meeting, Lan stated that China supports resolving trade and tariff disagreements through discourse and negotiations conducted on an equal basis.

Lan also advocated for enhanced implementation of the debt treatment mechanism under the Common Framework. He emphasized that all parties should allocate increased resources towards Africa’s development and strengthen the continent’s capacity-building initiatives.

Lan engaged in bilateral discussions and exchanges with several representatives, including those from South Africa, the European Commission, Pakistan, Germany, South Korea, Indonesia, Britain, Japan, and the World Bank. According to the statement, these meetings primarily focused on exchanging perspectives on the macroeconomic climate, crucial matters pertaining to the G20 fiscal channels, and opportunities for bilateral cooperation.