India G20 Summit: China hopes to convey confidence to the world and promote global prosperity and development through joint effort

"We are willing to work with all parties to promote the New Delhi summit to achieve positive results based on the principle of consensus." - Chinese Foreign Ministry spokesperson Mao Ning.

Beijing, China - September 9, 2023 /MarketersMEDIA/ —

The 18th summit of the G20 (Group of Twenty) is being held between 9 - 10 September 2023 in India. As the rotating president and host of the G20, India is holding such a large-scale multilateral diplomatic summit for the first time. Leaders of the G20 gathered in the capital New Delhi. China's top leader Xi Jinping is skipping the event with Premier Li Qiang attending instead. In addition to G20 members, other countries invited to the summit include Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain and the United Arab Emirates. International organizations such as the United Nations, International Monetary Fund, WHO, WTO, International Labor Organization (ILO), and the Organization for Economic Co-operation and Development (OECD) have also been invited. So are organizations including the International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure (CDRI), the Asian Development Bank (ADB), and others.

No joint statement from India G20 summit

Economic recovery and multilateral diplomacy have always been the main themes of the G20 summit. Like last year's summit in Bali, Indonesia, however, this year will inevitably encounter challenges involving geopolitics and power struggles. At the time of publishing, no joint statement has been issued. It is reported that G20 member states have found it difficult to reach an agreement on wording related to the Russia-Ukraine conflict. The United States and Western countries sought to express strong condemnation of Russia as a precondition for issuing a joint statement, which failed to be recognized by all G20 member states.

At a regular press conference on September 8, Chinese Foreign Ministry spokesperson Mao Ning said the G20 countries has not yet made a joint statement on this summit, "China has always attached great importance to the G20 and actively participated in related activities. In order to prepare for this summit in New Delhi, the Chinese delegation also participated in the consultation and discussion of the statement with a positive and constructive attitude. We are willing to work with all parties to promote the New Delhi summit to achieve positive results based on the principle of consensus."

Economic development and debt restructuring issues are top priorities

According to sources from the Indian Ministry of Foreign Affairs, the Modi government hopes the G20 will focus on climate change and the debt crisis of developing countries instead of the Russia-Ukraine conflict. In the past year as India assumed the presidency of the G20, the nation has paid increasing attention to many major issues, with focuses including how to allow multilateral institutions to provide more loans to developing countries, reform of the international debt structure, regulation of cryptocurrencies, and examining the impact of geopolitical uncertainty on food and energy security. Among these issues, economic development and debt restructuring are top priorities.

While India is promoting a debt restructuring agenda, Prime Minister Narendra Modi said that India, as the rotating president, attached great importance to the global challenges caused by debt vulnerabilities, especially for southern countries. Some Indian media positioned India as a leader "guiding the southern countries to confront the debt traps created by certain countries", which is quite consistent with India's portrayal of itself as the "leader of the southern countries" in recent years.

In April this year, Chinese Foreign Ministry spokesman Wang Wenbin said that China is not the source of the "debt trap" plaguing African countries, but a partner that helps Africa and other developing countries escape the "poverty trap". China attaches great importance to Africa’s debt problems and actively helps to deal with the problems, he said.

For the G20 Debt Service Suspension Initiative (DSSI), China has made the biggest contribution among the countries that participated in the DSSI. "The latest research results of the China-Africa Institute of Johns Hopkins University in the United States show that China has actively participated in the G20 DSSI and contributed as much as 63% of debt service suspensions." The report highlighted that China has conducted good communication with other participants and well performed duties with effective implementation of debt suspension measures. Wang Wenbin said at that time.

Wang Wenbin emphasized that China has always been committed to providing support for the economic and social development of developing nations including African countries, carrying out investment and financing cooperation based on the principle of equality and mutual benefit, and striving to help developing countries ease their debt burden.

African countries are also considering applying to join the G20

On August 27 this year, Indian Prime Minister Narendra Modi stated at the G20 Business Summit in New Delhi that India, as host of this year's summit, would focus on developing countries and propose to grant the African Union full member status of the G20. Modi said "We have an inclusive vision and in line with this vision, we have invited the African Union to become a full member of the G20."

China is the first country to explicitly support the African Union's participation in the G20. In August 2022, then State Councilor and Foreign Minister Wang Yi said in his speech at the coordinators’ meeting for the implementation of the outcomes of the 8th Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) that China firmly supports African countries in following their own path and uniting to strengthen themselves, and that China also supports the African Union to join the G20. Since then, China has reiterated this position on many occasions.

At present, the downward pressure on the world economy is increasing, and all countries have their own considerations for jointly responding to outstanding challenges in international economic development. Mao Ning, spokesperson of the Chinese Ministry of Foreign Affairs, said at a regular press conference on September 4 that the G20, as a major international economic forum for cooperation, should strengthen partnerships and joint efforts to address outstanding challenges in international economic development, and make positive contributions to promoting world economic recovery and global sustainable development. China hopes that the New Delhi summit will build such a consensus, convey confidence to the international world, and promote prosperity and development through joint effort.

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Release ID: 89107107

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