China urges G20 nations to increase cooperation to defeat coronavirus

President Xi also urges fellow member countries to cut tariffs, remove barriers and facilitate trade

BEIJING: Chinese President Xi Jinping called on leaders of the Group of 20 nations for greater international coordination to defeat the global pandemic coronavirus from the world. He termed the disease as an enemy of the whole world.

The highly contagious disease has sickened more than 488,000 people around the world, and killed over 25,000. There is no vaccine against the flu-like respiratory disease, which first surfaced in central China late last year.

“The epidemic has hit global production and demand in every way, and countries need to leverage and coordinate their macro policies and prevent the world economy from falling into recession,” Xi said in remarks at an extraordinary summit of G20 world leaders – including US, China, Japan and Germany – on the COVID-19 pandemic held via video link.

“Fiscal and monetary policies must be implemented effectively, coordination of financial regulations must be strengthened, and [countries] have to work jointly to safeguard the stability of the global industrial supply chain.”

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He also urged China’s fellow G20 member nations to cut tariffs, remove barriers and facilitate trade, Chinese state media reported.

Demanding better coordination among the G20 countries, Xi said that G20 members need to jointly help developing countries with weak public health systems enhance preparedness and response.

"It is imperative that countries pool their strengths and speed up research and development of drugs, vaccines and testing capabilities in the hope to achieve an early breakthrough to the benefit of all."

China will step up imports and increase foreign investment, while continuing to implement a pro-active fiscal policy and prudent monetary policy, Xi added.

Talking about his country and nation's fight against the deadly virus, Xi termed the virus as a 'surprise' for the whole nation. “From day one of our fight against the outbreak, we have put people's life and health first. We have acted according to the overall principle of shoring up confidence, strengthening unity, ensuring science-based control and treatment and imposing targeted measures. We have mobilised the whole nation, set up collective control and treatment mechanisms and acted with openness and transparency.”

G20 leaders said various measures underway to protect their economies would inject $5 trillion into the global economy, according to a joint statement.

As part of that, China is implementing $344 billion of mainly fiscal measures in its fight against the coronavirus outbreak, a Foreign Ministry official said on Thursday.

Talking about the global help for China, the president said that China received assistance and help from a lot of members of the global community. “Such expressions of friendship will always be remembered and cherished by the Chinese people.”