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Global Governance Initiative another important public good provided by China: spokesman

China

Global Governance Initiative another important public good provided by China: spokesman
China

China

Global Governance Initiative another important public good provided by China: spokesman

2025-09-02 16:47 Last Updated At:23:47

China unveiled the Global Governance Initiative on Monday at the Shanghai Cooperation Organization (SCO) Plus Meeting in Tianjin, marking another significant contribution to the international community, said the Chinese Foreign Ministry on Tuesday.

Speaking at a regular press briefing in Beijing, spokesman Guo Jiakun said that the initiative represents the latest in a series of global public goods put forward by China, following earlier proposals on development, security, and civilization. "The Global Governance Initiative (GGI) put forward by President Xi Jinping is the highlight of the SCO Tianjin Summit. It has made this summit a grand gathering that lights up humanity’s road forward. Marking the 80th anniversary of the victory of the World Anti-Fascist War and the founding of the United Nations, this year is a 'big year' for global governance. The GGI is a timely response to the hope of the people across the world and provides what the world urgently needs. It has been warmly welcomed and supported by leaders and heads of international organizations participating in the SCO summit, and will surely be more actively endorsed and more widely recognized by the international community," said Guo.

"The five core concepts of the Global Governance Initiative outline the principles, methods, and pathways to reform and improve global governance. Sovereign equality is the foremost premise of global governance. International rule of law is the fundamental safeguard. Multilateralism is the basic pathway. The people-centered approach is the underpinning value, and taking real actions is an important principle. They are consistent with the purposes and principles of the UN Charter, and is helpful for all the countries to advance the reform and building of the global governance system to meet the need of our times via the UN and other multilateral mechanisms and better cope with the challenges of the times," he said. "The GGI is yet another important public good provided by China, following the Global Development Initiative (GDI), the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI). The four initiatives have their respective priorities and can be pursued simultaneously. They will each be a source of stability and certainty for a changing and turbulent world and demonstrate China’s commitment to taking up its responsibility in international affairs. We will strengthen coordination and communication with the UN and all the parties to implement the Global Governance Initiative, build a more just and equitable global governance system, and join hands to build a community with a shared future for humanity," said Guo.

Global Governance Initiative another important public good provided by China: spokesman

Global Governance Initiative another important public good provided by China: spokesman

Global Governance Initiative another important public good provided by China: spokesman

Global Governance Initiative another important public good provided by China: spokesman

Global Governance Initiative another important public good provided by China: spokesman

Global Governance Initiative another important public good provided by China: spokesman

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

China's aggregate social financing maintains high growth in 2025

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