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UN chief welcomes China-proposed Global Governance Initiative: spokesman

China

UN chief welcomes China-proposed Global Governance Initiative: spokesman
China

China

UN chief welcomes China-proposed Global Governance Initiative: spokesman

2025-09-05 14:49 Last Updated At:17:17

UN Secretary-General Antonio Guterres welcomes the Global Governance Initiative (GGI), proposed by China at the just-concluded Shanghai Cooperation Organization (SCO) Tianjin Summit, calling it a timely push to reinforce multilateralism and uphold the international order based on international law and the UN-centered international system.

On Thursday, Stephane Dujarric, spokesperson for Guterres, conveyed the UN chief's endorsement, highlighting his call for a rule-based international order anchored in multilateralism.

"The Secretary-General outlined it in his remarks that we released to you -- underscored the importance of safeguarding the international system with the United Nations system at its core, an international order underpinned by international law, and he welcomed the Global Governance Initiative," said Dujarric in his daily briefing.

In his remarks at the SCO meeting on Monday, Guterres welcomed the GGI and its commitment to multilateralism.

Noting that this year marks the 80th UN founding anniversary, he stressed the need to strengthen international cooperation for the 21st century and to always put people first.

Echoing that message, Guterres emphasized the initiative's alignment with UN principles and its focus on safeguarding a rules-based international system anchored in law.

Xi proposed the GGI while chairing the "Shanghai Cooperation Organization (SCO) Plus" Meeting in Tianjin.

He outlined five guiding principles for the initiative: sovereign equality, adherence to international law, commitment to multilateralism, a people-centered approach, and a focus on concrete action.

The GGI is the fourth major global initiative proposed by Chinese President Xi Jinping in recent years, following the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative-each aimed at shaping a more inclusive and cooperative international landscape.

Leaders from more than 20 countries and the heads of 10 international organizations gathered in the northern Chinese port city for the largest-ever edition of the SCO summit, which was held from Aug 31 to Sept 1.

UN chief welcomes China-proposed Global Governance Initiative: spokesman

UN chief welcomes China-proposed Global Governance Initiative: spokesman

UN chief welcomes China-proposed Global Governance Initiative: spokesman

UN chief welcomes China-proposed Global Governance Initiative: spokesman

UN chief welcomes China-proposed Global Governance Initiative: spokesman

UN chief welcomes China-proposed Global Governance Initiative: 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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