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To maintain stable liquidity while avoiding a flooded market, China's central bank has put more focus on enabling structural policy tools, including re-lending and rediscount programs, to play a more effective role in stabilizing businesses and jobs.

Highlighting the capable leadership of Saudi Arabia over the past year, Wang said the G20 responded to the epidemic with unity, and achieved practical results in many fields, from coordinating policies on vaccine and macro-economy, addressing the debts of developing countries, to promoting trade and investment, digital economy and the flow of people.

Countries should strengthen and coordinate their efforts to develop treatments and vaccines, said O'Neill, who in the early 2000s coined the acronym BRIC that represents Brazil, Russia, India, and China, expressing hopes that all BRICS countries can return to stronger growth after the pandemic.

First, we need to strengthen the UN-centered international system. The UN is the core institution for addressing international affairs through cooperation. All countries should firmly support the UN’s authority and standing, follow the purposes and principles of its Charter, and uphold the international order underpinned by international law. We support the UN in more effectively building global consensus, mobilizing global resources and coordinating global actions. We support a bigger role of the UN in promoting world peace and development.

Attendees at the meeting emphasized the need to deepen reform and opening-up of the insurance sector, with a focus on optimizing supply and providing high-quality personal-insurance products, to meet people's needs for health, old-age support and safety protection.