Xi encourages G20 to fend off recession with coordinated policies

Source:China Daily Editor:Chen Lufan 2020-03-26 22:35:32

President Xi Jinping attends the 14th G20 summit held in Osaka, Japan, in this June 28, 2019 file photo. [Photo/Xinhua]


President Xi Jinping on Thursday called on all the G20 members to enhance coordination of macro policies to prevent a recession of the global economy under the influence of the novel coronavirus pneumonia.

Xi made the remarks while delivering a speech at the G20 Extraordinary Leaders' Summit on COVID-19. The summit, in the form of a video conference, is the first of its kind under the G20 framework.

The countries should implement powerful and effective fiscal and monetary policies, enhance coordination on financial supervision and jointly maintain the stability of the global industrial chain, he said.

Xi pledged that China will make greater efforts to supply medicine, daily necessities and disease prevention materials to the global market.

China will continue to carry out positive fiscal policy and stable monetary policy, steadily promote reform and opening-up, ease market access and improve the business environment, increase imports, and expand outbound investment, thus making contributions to stabilizing the global economy, he said.