Minister of Finance Lan Fo'an: China Advocates for Resolving Trade and Tariff Disputes Through Equal Dialogue and Consultation

According to the Ministry of Finance website, the second G20 Finance Ministers and Central Bank Governors Meeting of the year was held in Washington, D.C., US, on April 23-24, 2025, hosted by South Africa, the G20 presidency. The meeting primarily discussed the global macro economic situation and financial stability, the international financial architecture, and promoting growth and development in Africa. Minister of Finance Lan Fo'an attended the meeting and delivered a speech, accompanied by Vice Minister Liao Min.

Lan Fo'an stated that the current global economic growth lacks momentum, and tariff wars and trade wars further impact economic and financial stability. China firmly upholds the multilateral trading system with the World Trade Organization at its core, advocates for resolving trade and tariff disputes through equal dialogue and consultation, and will resolutely safeguard its legitimate rights and interests. All parties should strengthen multilateral cooperation to further improve the international economic and financial system, actively promote the reform of multilateral development banks, effectively advance the equity review of the International Bank for Reconstruction and Development, pragmatically implement the "Common Framework for Debt Treatment beyond the Debt Service Suspension Initiative," and encourage international financial institutions and the private sector to provide more support for vulnerable countries in addressing debt and liquidity challenges. All parties should pool more resources for Africa's development, strengthen the capacity building of African institutions, and inject new momentum into Africa's economic growth through digital and green transformation. Lan Fo'an also highlighted the steady and positive trend of China's economy, its policy orientation, and China's important measures to support Africa's development.

During the meeting, Lan Fo'an held bilateral meetings or exchanges with South Africa's Finance Minister Godongwana, the EU Commissioner for Economy and Productivity Dombrovskis, Pakistan's Finance Minister Aurangzeb, Germany's Finance Minister Kukies, South Korea's Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, Indonesia's Finance Minister Indrawati, UK Chancellor of the Exchequer Reeves, Japan's Finance Minister Kato Katsunobu, and World Bank President Banga, mainly exchanging views on the macro economic situation, key issues of the G20 financial track, and bilateral cooperation. Vice Minister Liao Min accompanied the participation.