China News Service, Beijing, July 12-Italy, the chairman of the Group of Twenty (G20), recently hosted a meeting of G20 finance ministers and central bank governors.

The meeting mainly discussed the global economic situation and health cooperation, international financial architecture, policies to support economic recovery, sustainable finance, international taxation and financial supervision. A communiqué was issued after the meeting.

Liu Kun, Minister of Finance of China, attended the meeting and delivered a speech in video format.

　　The meeting believes that thanks to vaccination and continuous policy support, the global economic outlook has further improved, but the recovery is uneven and faces downside risks.

All parties recognize the role of new crown pneumonia immunization as a global public product, support the diversification of global vaccine production capacity, and promote the sharing of safe, effective, high-quality and affordable vaccines on a global scale.

　　The meeting approved the profit redistribution of multinational corporations proposed in the “Statement on the Two-Pillar Solution to the Tax Challenge of Economic Digitalization” issued by the G20/Organization for Economic Cooperation and Development (OECD) Inclusive Framework for Tax Base Erosion and Profit Shifting on July 1. And the core elements of the two pillars of the global effective minimum tax, calling for the inclusive framework to determine the final design elements within the agreed framework before the G20 meeting of finance ministers and central bank governors in October, and submit a detailed plan for the implementation of the two pillars. .

　　All parties agree to conduct closer international coordination in addressing climate change and protecting the environment, and promote a just and orderly transition to a low-greenhouse gas emission, more prosperous, sustainable and inclusive economy.

All parties welcome the progress made by the G20 initiative to postpone the debt repayment of the poorest countries, and reiterate that they will implement the Common Framework for the Follow-up Debt Handling of the Debt Mitigation Initiative (hereinafter referred to as the Common Framework) in accordance with the commitment made in April 2021 to address debt vulnerability in a coordinated manner Sex.

　　Liu Kun said that the world economy is recovering, but the recovery is clearly divided and the uncertainty remains high.

China has provided more than 480 million doses of vaccines to nearly 100 countries and is willing to continue to work with all parties to bridge the "immunization gap."

All parties must adopt responsible macroeconomic policies, strengthen mutual coordination, and avoid negative spillover effects.

At the same time, we will unswervingly build an open economy and promote structural reforms to achieve strong, sustainable, balanced and inclusive growth.

　　Liu Kun pointed out that since the beginning of this year, China has conscientiously implemented the postponement of the Debt Mitigation Initiative, and promoted the formal launch of the implementation of the Common Framework, and made important contributions to supporting vulnerable economies with practical actions. China has always strengthened multilateral cooperation with an open attitude and willingness to cooperate. It supports reaching a consensus on the key elements of a multilateral solution to the challenge of economic digitalization and taxation, and it supports reaching a more stable and balanced final consensus solution with two pillars. In the design of subsequent specific plans, all parties of the G20 must take into account the development needs of economies at different development stages, properly handle the major concerns of various countries, limit the impact on real economic activities, and strive to reach a comprehensive consensus on schedule. (Finish)