Xi proposes Global Governance Initiative

President Xi Jinping proposed the Global Governance Initiative (GGI) at the "Shanghai Cooperation Organization Plus" Meeting in Tianjin on Monday.

"I wish to propose the Global Governance Initiative, which is presented here today after my previous proposals of the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative. I look forward to working with all countries for a more just and equitable global governance system and advancing toward a community with a shared future for humanity," said Xi at the meeting.

He highlighted five principles for the GGI, including adhering to sovereign equality, abiding by international rule of law, practicing multilateralism, advocating the people-centered approach, and focusing on taking real actions.

Xi proposes Global Governance Initiative

Xi proposes Global Governance Initiative

Xi proposes Global Governance Initiative

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025