During the period of "much starker choices-and graver consequences-in", the Ministry of Finance thoroughly study and apply jinping diplomatic thought, actively advocate human destiny community building, effective multilateral and bilateral dialogue mechanism of finance and economics as a whole, strengthen international macroeconomic policy coordination, deepen pragmatic cooperation in financial field, promote the global economic governance, create a good external development environment, the domestic economic development and high quality service "area" all the way high quality development.

A system of all-round and multi-field foreign financial and economic cooperation has taken shape

First, the dialogue has many members. The National Economic Department of the Ministry of Finance leads 23 foreign financial and economic cooperation mechanisms involving a large number of countries and international economic organizations. The multilateral financial dialogues include the One Belt And One Road forum, the g20, brics, prime ministers' roundtable dialogue with heads of six international economic organizations, asia-pacific economic cooperation (APEC), and asean plus three (10+3) financial cooperation. There are 13 bilateral financial dialogue mechanisms covering all g7 countries and major developing countries.

Second, the topics of the dialogue are wide-ranging. The topics covered include global, regional, bilateral and third-party market cooperation, including economic situation and macroeconomic policy, global economic governance, finance, trade and investment, infrastructure construction and major projects, scientific and technological cooperation and other fields. In recent years, the scope and scope of cooperation topics have been expanding, including digital economy governance, Development in Africa, debt sustainability in underdeveloped countries, and public health cooperation.

Third, rich forms of dialogue. The home and away venues echo each other at a distance, multilaterally and bilaterally promote each other, and offline and online dialogues complement each other. In addition to the official dialogue, China has also actively set up a dialogue platform for entrepreneurs and financial institutions, so as to expand common interests and the circle of friends.

Financial and economic cooperation with other countries has advanced in an orderly and coordinated way at three levels

First, as the world's second largest economy, we need to advance reform of global economic governance and jointly build a community with a Shared future for mankind. We should make full use of the G20 and other multilateral and bilateral mechanisms, strengthen international policy coordination, play the role of a responsible major country, and improve the global economic governance system. We will promote international tax cooperation and actively participate in the formulation of tax rules for the digital economy. From the perspective of finance ministers, China supports global public health cooperation, promotes global joint response to the challenge of COVID-19 and contributes to the building of a community with a Shared future for mankind.

Second, as a major country in the region, we should deepen regional financial cooperation and promote regional economic cooperation and integration. With the 10+3 as the starting point, we should actively participate in regional financial cooperation, vigorously develop the Asian bond market, strengthen the regional financial safety net, strengthen infrastructure for regional financial cooperation, and accelerate regional economic integration. We will make effective use of the PLATFORMS of APEC and ASEM Finance Ministers to promote regional connectivity.

Third, as developing countries, strengthen South-South cooperation and safeguard the common interests of developing countries. We should strengthen financial and financial cooperation among BRICS countries, strengthen practical cooperation among all parties, make the New Development Bank bigger and stronger, and promote the economic and financial development of BRICS countries. We will deepen policy coordination among BRICS countries under the G20 framework and unite other developing countries to speak with one voice. Strengthening practical financial and financial cooperation among developing countries of the SCO to promote common development.

Major achievements were made in financial and economic cooperation with other countries

-- Actively promoting the provision of global public goods. We should play the role of major responsible countries, guide the international community to take joint actions to address the international financial crisis and the global public health crisis, actively advocate multilateralism and the free trade system, and support economic globalization to achieve win-win results. Use the G20 presidency in 2016 to promote the adoption of the G20 Agenda for Deepening Structural Reform, strengthen the G20 top-level design on structural reform, and promote the post-crisis global economic recovery. President Xi Jinping has made it clear that when China's COVID-19 vaccine is developed and put into use, it will serve as a global public good and make China's contribution to achieving the accessibility and affordability of vaccines in developing countries. We have promoted the inclusion of this proposal in the statement of the G20 Finance ministers and Health Ministers meeting on 17 September to highlight China's image.

-- We will vigorously advance reform of the global economic governance system. As a participant, builder, contributor and maintainer of the current global economic governance system, China has always taken an active part in the reform and construction of the global governance system. For example, through multilateral and bilateral financial cooperation, we will push forward the reform of equity and voting rights in the World Bank and complete a new round of capital increase to increase the voting rights of developing countries. Recently, in the face of the COVID-19 epidemic, we stepped up international policy coordination and joined hands to adopt the G20 Debt Standstill Initiative for the Poorest Countries.

-- We will take regional financial cooperation to a new level. Taking the opportunity of serving as co-chairmen of the ASEAN Plus Three, China promoted the formulation of the strategic direction and medium-term implementation plan of the ASEAN Plus Three Macroeconomic Research Office, and promoted its upgrading to an international organization. We will actively expand areas of regional financial cooperation and work out an apt future development strategy. Enhance the practicality and effectiveness of the CMIM, and promote coordination and cooperation between the regional and global financial safety nets. We will take the lead in developing the Medium-term roadmap for the Asian Bond Market Initiative to promote infrastructure bond financing and the development of green bonds.

-- Promoting two-way exchange of international experience. We will actively participate in the international agenda and the design of dialogue outcomes, publicize China's development concepts, provide China's development experience, publicize China's major measures for further reform and opening up, and enhance the international community's confidence in China's long-term economic development. We made good use of the opportunity of the G20 Outcome Document on financial Channels this year. Under the key topics of enhancing access and infrastructure investment, we presented seven China cases, the most of which were among the top seven.

At the same time, we will effectively draw on international rules to form a Chinese plan. We actively responded to the recommendations of international organizations on structural reform, comprehensively deepened supply-side structural reform, unleashed high-quality growth drivers, and contributed more than 30% to global economic growth. The IMF and OECD have spoken highly of this. Two successive peak BBS "area", respectively issued "guidelines" area "financing" the "in" debt sustainability analysis framework ", guiding the investment pay attention to protecting the environment, improve people's livelihood, to reduce the debt risk, booster "area" construction line zhiyuan, reveal the image of a responsible big country, widely praised the international community.

Source: Ministry of Finance, PRC