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In the face of the severe impact on the world economy and the marked rise in instabilities and uncertainties of the international situation due to the ravaging COVID-19, Xi said all countries should enhance solidarity and cooperation and uphold multilateralism to counter challenges.

The long-term investment capabilities of insurance funds are to be enhanced, while the supervision of assets and liabilities will be strengthened, and risk prevention and control stepped up. Differentiated regulatory ratio shall be adopted for equity assets involving insurance fund investments, up to 45 percent of the company's total assets.

Colleagues,

BEIJING, Dec. 22 (Xinhua) -- At the recently concluded Climate Ambition Summit, Chinese President Xi Jinping repeated his well-known remarks: "Mountains and rivers green are mountains of silver and gold," calling for a new approach to climate governance that highlights green recovery.

"COVID-19 serves as another reminder that only solidarity and cooperation can enable us to prevail over challenges," Xi said.