Jin Liqun: Multilateralism and China’s Responsible Global Role

Editor's Note

This essay is selected from the book, which is the ninth volume of the “China and Globalization Series” books. This book series seek to create a balanced global perspective by gathering the views of highly influential policy scholars, practitioners, and opinion leaders from China and around the world. The open access bookGlobal Development and Cooperation with Chinacombines the insights and wisdom of 26 representatives from a wide range of international organizations into a collection of 21 essays, focusing on the latest trends in four major areas—global governance, trade and economics, science and technology, and culture and exchange—providing the reader with information on the latest developments in these areas with a special focus on China and its relevant contributions.

Editors: Henry Huiyao Wang, Mabel Lu Miao

ISBN: 978-981-96-2452-2

Published in April, 2025

Publisher: Springer Nature

Upholding Multilateralism, Establishing and Maintaining an Image as a Responsible Major Country

By Jin Liqun

Inaugural president and chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB)

Faced with formidable challenges including global sustainable development, climate change, major infectious diseases, ecological protection, and biodiversity, China’s global development initiatives have provided essential support for the UN SDGs. As China has benefited from the international development system, it has also taken an active role in the AIIB’s establishment, its aspirations and mission, its governance and operational principles, and its role in the broader international economic governance system. This has enabled it to undertake more international obligations, promote improvement of the current international economic system, and provide more international public goods. It is also a move that will help bring mutual benefits and win–win outcomes to all sides.

China has consistently contributed over 30% of global economic growth for an extended period of time, establishing itself as the largest trading partner for more than 130 countries and regions. Global trade in goods has nearly doubled since China acceded to the WTO. In both the financial crises of 1998 and 2008, China showcased the resilience of its economy by adeptly sustaining its economic and financial stability. Furthermore, through active participation in global and regional multilateral forums like theG20,10+3, and APEC, China engaged in extensive coordination of macroeconomic policies, playing a pivotal role in the global economic recovery. Confronted with the challenges posed by the COVID-19 pandemic and intricate geopolitical landscapes, China ensured the smooth and stable operation of global supply chains. It has firmly supported and upheld multilateral trade rules while vehemently opposing unilateralism and trade protectionism.

Faced with formidable challenges including global sustainable development, climate change, major infectious diseases, ecological protection, and biodiversity, China has actively championed the ratification and execution of the Paris Agreement. China has made a solemn commitment to peak carbon dioxide emissions before 2030, achieve carbon neutrality by 2060, and refrain from constructing new overseas coal-fired power projects. China’s global development initiatives have been instrumental in providing essential support for the United Nations’ 2030 Agenda for Sustainable Development.

Looking back at the proposal made ten years ago and the successful operation over the past eight years, the AIIB has continued to develop rapidly, demonstrating the value and essence of multilateralism amid the evolving international landscape.

The successful establishment and operation of the AIIB mark a victory for multilateralism, showcasing the shared pursuit of peace, development, and cooperation by all countries. It also demonstrates China’s leadership, credibility, and appeal as a responsible great power. In 2017, at the World Economic Forum in Davos, an Associated Press reporter asked me whether the establishment of the AIIB was a success of China’s foreign policy. I answered, “Of course! But it is also the diplomatic achievement of the other 56 founding members. There is no denying it.”

Jin Liqunis the inaugural president and chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB). On July 28, 2020, he was elected to serve a second term of five years, beginning on Jan. 16, 2021. Before being elected as the Bank’s first President, he served as Secretary-General of the Multilateral Interim Secretariat tasked with establishing the Bank. Jin has rich experience across the private and public sectors and with MDBs. Jin spent nearly two decades at the Chinese Ministry of Finance, reaching the rank of Vice Minister. He holds a master’s degree in English Literature from the Beijing Institute of Foreign Languages (now Beijing Foreign Studies University) and was a Hubert Humphrey fellow in the Economics Graduate Program at Boston University from 1987 to 1988.

Click↙【read more】for Full Text