Overview

• China's Finance Minister Lan Fo'an criticized global economic growth as inadequate, citing trade wars and supply chain disruptions as key barriers to momentum.
• Beijing emphasized the need for equal-footing multilateral dialogue to resolve tariff disputes, rejecting U.S. claims of ongoing negotiations.
• People's Bank of China Governor Pan Gongsheng highlighted the adverse effects of economic fragmentation and called for international policy coordination.
• China advocated for better implementation of the G20 Common Framework on debt treatment and proposed pooling resources for African development initiatives.
• The G20 meeting occurred after U.S. tariff hikes, including a 145% levy on Chinese imports, which have increased global financial instability and weakened growth forecasts.