From April 23 to 24, the G20 (G20) held the second G20 Finance Ministers and Central Bank Governors' Meeting this year in Washington, USA. The meeting discussed issues such as global economic outlook, improving the international financial structure, and responding to the difficulties of Africa's development and growth.
All parties at the meeting said that the global economy continued to recover, but downward risks rose significantly, and trade tensions, tightening financing conditions, and long-term structural challenges were intertwined and superimposed. All parties expressed concern about the negative impact of the escalation of trade frictions, calling for strengthening dialogue and policy coordination, improving the multilateral trading system, and seeking solutions that are in the interests of all parties. All parties support the construction of a more stable, more efficient and more resilient international financial structure, strengthen the financing capabilities of multilateral development banks, and continue to provide development financing.
People's Bank of China Governor Pan Gongsheng said that economic fragmentation and trade tensions continue to disrupt the industrial chain and supply chain and weaken the momentum of global economic growth. There are no winners in the trade war and tariff war. Major economies should strengthen their participation in international macroeconomic and financial policies coordination, take substantive actions to promote international cooperation, and maintain global economic and financial stability. China's economy is currently starting well, continuing its recovery and positive trend, and the financial market is operating smoothly. The People's Bank of China will implement moderately loose monetary policies to promote high-quality development of China's economy.
(CCTV reporter Sun Yan)
