Lan Fo'an: The tariff war and trade war further affect economic and financial stability.

From April 23rd to 24th, 2025, the G20 Presidency country South Africa held the second G20 Finance Ministers and Central Bank Governors meeting of the year in Washington, D.C., United States. Minister of Finance Lian Fowan attended the meeting and delivered a speech, accompanied by Deputy Minister Liao Min. Lian Fowan stated that the current global economic growth momentum is insufficient, and the tariff and trade wars are further affecting economic and financial stability. China firmly upholds the multilateral trading system with the World Trade Organization at its core, advocates for resolving trade and tariff disputes through equal dialogue and negotiation, and will also firmly defend its own legitimate rights and interests. All parties should strengthen multilateral cooperation to further improve the international economic and financial system, actively promote the reform of multilateral development banks, effectively advance the shareholding review of the International Development Bank, practically improve the implementation of the Common Framework for Debt Treatment under the Debt Service Suspension Initiative, and encourage international financial institutions and private sectors to provide more support to vulnerable countries in addressing debt and liquidity challenges. All parties should mobilize more resources for African development, strengthen the capacity building of African institutions, and inject new impetus into African economic growth through digitalization and green transformation. Lian Fowan also highlighted the positive trends in the Chinese economy, policy orientation, and significant measures to support African development.