Fintech News & Trends in Hong Kong and Asia

Xi calls for concrete actions to jointly address global challenges

BEIJING – President Xi Jinping on Sunday called on the world to jointly address global challenges and said the key lies in taking concrete actions.

Xi made the remarks while addressing the 16th G20 Leaders' Summit via video link.

Climate change and energy issues are today's prominent global challenges, which concern the common interests of the international community and the future of the Earth, President Xi Jinping said

Climate change and energy issues are today's prominent global challenges, which concern the common interests of the international community and the future of the Earth, Xi said.

Xi also noted the increasing willingness and motivation of the international community in taking concerted efforts to deal with these challenges. 

He urged developed countries to earnestly fulfill their commitments to developing countries in providing funds to help them cope with climate change.

ALSO READ: Xi urges developed nations to lead on emissions cut

Xi also called on major economies to strengthen cooperation in balancing environmental protection and economic development, as well as in addressing climate change and safeguarding people's livelihood.

He called for efforts to fully and effectively implement the United Nations Framework Convention on Climate Change and the Paris Agreement, following the principle of common but differentiated responsibilities.

Xi stressed upholding the role of the UN as the main channel, following the principle of common but differentiated responsibilities, abiding by international law, and being action-oriented.

He also stressed the fundamental role of technological advancement in addressing climate change and realizing the transformation of the energy sector.

READ MORE: China issues action plan to peak CO2 emissions before 2030

Members of the G20 should take the lead in promotion and application of advanced technologies, Xi added.