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Third, we need to promote the sound development of the digital economy. To address countries’ concerns on data security, the digital divide, personal privacy and ethics, we should adopt people-centered and facts-based policies to encourage innovation and build trust. We should support the UN’s leadership role in this field, and work together to foster an open, fair, just and nondiscriminatory environment for building the digital economy. Recently, China launched the Global Initiative on Data Security. We may work on that basis and join other parties for discussing and formulating rules on global digital governance. China supports increased dialogue on AI, and proposes a meeting on this in due course to advance the G20 AI Principles and set the course for the healthy development of AI globally. The G20 also needs to discuss developing the standards and principles for central bank digital currencies with an open and accommodating attitude, and properly handle all types of risks and challenges while pushing collectively for the development of the international monetary system.

Noting China is forging a new development paradigm of a "dual circulation," where the domestic and overseas markets reinforce each other, with the domestic market as the mainstay, Xi said China would stay committed to expanding opening-up. He added that China would integrate itself into the global market more actively to share development opportunities with all countries and contribute to the global economic recovery.

The office of the working mechanism of the security review will be set up under the NDRC, which will lead the task along with the MOC, according to the statement.

Li, chairman of the National People's Congress (NPC) Standing Committee, said China and Japan shared extensive common interests and a broad space for cooperation.

He said President Xi's letter sent a clear message that humanity needs to strengthen cooperation more than ever in the face of challenges and China's new development paradigm of dual circulations featuring more openness will better benefit people around the world.