BALI, Indonesia — Chinese President Xi Jinping addressed the Group of 20 (G20) Bali summit in Bali on Nov 15, saying that faced with challenges, all countries should embrace the vision of a community with a shared future for mankind, and advocate peace, development, and win-win cooperation.

Xi called on all G20 members to lead by example in promoting development of all nations, improving the well-being for the whole mankind, and advancing progress of the entire world.

He also put forward a three-point proposal, saying that we should make the global development more inclusive, beneficial to all and more resilient.

The theme of the Bali summit, "Recover Together, Recover Stronger", sends a positive message of the G20's commitment to supporting the growth of developing countries and preventing divergent and unbalanced global recovery, he said.

"We need to build a global partnership for economic recovery, prioritize development and put the people at the center, always keep in mind the difficulties faced by developing countries, and accommodate their concerns. China supports the African Union in joining the G20," he said.

Xi urged all parties to continue to deepen international cooperation against COVID-19, so as to create a sound environment for economic recovery.

"We should curb global inflation, and defuse systemic economic and financial risks. In particular, developed economies should mitigate the negative spillovers from their monetary policy adjustment, and keep their debts at sustainable levels," he said.

The Chinese leader noted that China is implementing the G20's Debt Service Suspension Initiative (DSSI) in all respects, and has suspended the largest amount of debt service payment among all G20 members.

Xi said that we must resolutely oppose the attempt to politicize food and energy issues or use them as tools and weapons, adding that unilateral sanctions must be removed, and restrictions on relevant scientific and technological cooperation must be lifted.

A China marching toward modernization will bring more opportunities to the world, inject stronger momentum for international cooperation, and make greater contribution to human progress, he concluded.