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China’s Foreign Minister Wang Yi has introduced the country’s new Global Governance Initiative (GGI). He called for stronger multilateralism, sovereign equality, and a more just and inclusive world order. Speaking at the 23rd Lanting Forum in Beijing, he said the GGI represents China’s latest contribution to global public goods and its vision for a “shared future for humanity.” Five Core Principles of the Global Governance Initiative Wang Yi explained that the GGI rests on five key principles : sovereign equality, rule of law, multilateralism, people-centered development, and real results. The initiative aims to reform and strengthen the international system under the UN Charter. It also rejects unilateralism and power politics. He added that the GGI builds on China’s diplomatic tradition and reflects its belief in cooperation and fairness. Through this framework, China seeks to make global governance more inclusive and results-oriented. Wang Yi stressed that multilateralism is the cornerstone of global stability. He warned that “exclusive blocs” and “the law of the jungle” threaten that stability. To counter this, he urged countries, especially developing nations, to gain a greater voice in international decision-making. In addition, he called for reforms at the United Nations, the International Monetary Fund (IMF), and the World Bank to fix what he described as “democratic deficits.” According to him, fair representation would make these institutions more credible and effective. President Xi’s Vision for Global Stability Highlighting President Xi Jinping’s four global initiatives: the Global Development Initiative (GDI), Global Security Initiative (GSI), Global Civilization Initiative (GCI), and now the GGI. Wang said they provide much-needed stability in a time of growing uncertainty. He emphasized that these frameworks complement each other. Together, they encourage nations to work collectively rather than compete destructively. On climate change, he reaffirmed China’s commitment to the Paris Agreement, urging developed countries to meet their emission-reduction obligations and support developing nations through finance and technology. China, he said, would deepen cooperation on green industries and has updated its own Nationally Determined Contributions under the agreement. Strengthening the UN System and Global South Cooperation Wang Yi also announced new efforts to strengthen the UN-centered system, establish a China-UN Global South-South Development Facility, and create a global center for sustainable development in Shanghai. Addressing the rise of the Global South, he said the next phase of global governance will be its “time to lead,” with countries like South Africa, Brazil, and Qatar hosting major upcoming summits. China, he added, will support their leadership to make international governance more balanced and representative. He further noted China’s plans to use upcoming platforms, including the 2026 APEC presidency, BRICS expansion, and Shanghai Cooperation Organization (SCO) partnerships, to promote fairness, openness, and cooperation.
