On 5th May, the Founding Ceremony of the B20 China Business Council was held in Beijing. The organizers reviewed B20 China Business Council Work Regulations and announced the candidates for the Chairman and Vice Chairmen. SGCC Chairman ShuYinbiao was elected as the Chairman of the Council. Chairman for China Council for the Promotion of International Trade Jiang Zengwei, and representatives of State-owned Assets Supervision and Administration Commission of the State Council, the Ministry of Commerce, the Presidium and academic institutions attended the ceremony and delivered speeches.
ShuYinbiao, in his speech, pointed out that currently, China has become the world’s second largest economy, largest commodity trader and third largest foreign direct investor. Therefore, world economy can’t grow without China and the commercial and business circle of China. 110 Chinese companies made themselves into Fortune Global 500 in 2016, with 97 of them being based in China’s mainland. The establishment of B20 China Business Council provides sustainable institutional guarantee to pool in the wisdom of Chinese businesses and help them get their voice heard in the global community, which will greatly increase the influence of the commercial and business circle of China in global economic governance.
In terms of the next step for the Council, which is of great concern to all participants, ShuYinbiao pointed out that the Belt and Road Initiative wasa major development strategy of great importance with consideration to both international and domestic conditions proposed by the CPC Central Committee under the leadership of President Xi Jinping; it wasan important practice of the global implementation of the “Hangzhou Consensus” in line with the strong intention of related countries in economic upgrade and transformation. The Belt and Road Initiative, which focuses on facilitating “policy communication, infrastructure connectivity, smooth trade flow, capital financing and people-to-people exchange”, is highly consistent with the principles advocated by “Hangzhou Consensus”. With the holding of the Belt and Road Forum for International Cooperation in China in mid-May, B20 China Business Council and its mechanisms will play a bigger role within the “Belt and Road” Cooperation Framework. Besides, the Council will also organize domestic businesses to conduct forward-looking research, strengthen coordination, reach consensus and produce quality policy suggestions based on the major topics of G20 Summit to contribute more ideas and practical measures to promote the development of B20. In this way, we can safeguard the interest of the business and commercial circle in China, pursue and expand international consensus and promote the global economic governance system to transit into a more just, inclusive and efficient model.
ShuYinbiaosaid that it wasthe development need and international responsibility of Chinese businesses to actively get involved in global economic governance. Members of B20 China Business Council are industrial leaders in China with supreme industrial status that can represent the image of the business and commercial circle of China. SGCC will be working with more than 300 members to participate in and support the efforts on promoting multilateral economic diplomacy following the B20 China Business Council Work Regulations to gather synergy for world economic growth and the realization of the B20 Development Goals.
B20 China Business Council is a multilateral business and commercial cooperation mechanism established at the initiation of China Council for the Promotion of International Trade and China Chamber of International Commerce. It is aimed at improving the presence and influence of B20 in the business and commercial circle in China and providing an institutional guarantee for Chinese businesses to be actively and deeply involved in B20 related work so as to have a greater say in global economic governance, have their voice heard in the international community and actively look for solutions to key challenges facing world development. In this way, the Council can play a more important role in promoting strong, sustainable and balanced world economic growth.
In the future, B20 China Business Council will act as the bridge for communication in the business and commercial circle, facilitate joint participation in global economic governance, pool in ideas and strength in the principle of openness, inclusiveness and communication to comprehensively promote the implementation of the “Hangzhou Consensus” with more fruitful results being produced; and build an innovative, open, coordinated and inclusive world economy.
Source: Department of International Cooperation, State Grid News