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Liu Kun, Minister of Finance of China, said that the Chinese government would take a series of major reform and opening-up measures to promote a higher level of opening-up and promote the high-quality development of China's economy and the prosperity and development of the global economy.
Liu Kun, who attended the meeting of finance ministers and central bank governors of the Group of Twenty (G20) at the weekend, said that China's economy has maintained a steady growth trend overall this year, and that protectionism is still an important challenge facing the world as uncertainties in the world economy increase. All parties should pay close attention to potential downside risks, jointly safeguard a rule-based multilateral system and handle trade disputes equally and rationally.
Liu Kun also pointed out that the current global imbalances are mainly concentrated in developed economies, which should play a greater role in the adjustment of imbalances. The adoption of trade protection measures on bilateral occasions will not help to improve imbalances in the multilateral system, but will damage world economic growth.

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