General Secretary Xi Jinping recently made a speech in the expert symposium on economic and social fields. He suggested that we should actively participate in the reform of global economic management system and promote a fairer and more reasonable system. The speech is not only a scientific judgment on the development of economic globalization and the unprecedented adjustment of the world economic pattern, but also a new orientation for China’s economic development and China’s participation in global economic management in the new era, which is of great guiding significance.First of all, the current institutional arrangements of the global economic management system are unable to cope with the changes in the world economy, which means it can’t adapt to the structural revolution of the world economy and the needs of global value chain’s reconstruction. What’s more, it can’t solve global economic problems effectively, and the willingness for the fore-developmental countries to provide international public goods is weakening.Secondly, the result of the fragmentation of the current global economic management system lies in the following aspects. One is the strengthening of regional trade agreements, the other is the deconstruction of the global economic management system caused by transnational corporations.Finally, to actively push forward the reform of global economic management system, we need to persist in these principles. The first is repairing the negative consequences of fragmentation governance through holding the concept of a community with a shared future for mankind. The second is promoting the reform of global economic management system actively. The third is to positively provide international public goods, which is commensurate with our national status, and to undertake corresponding international obligations and responsibilities.
