On October 27, 2025, Member of the Political Bureau of the CPC Central Committee and Foreign Minister Wang Yi attended the 23rd Lanting Forum and delivered remarks titled "Implementing the Global Governance Initiative for a Community with a Shared Future for Humanity".

Wang Yi stated that the Global South is rising as a whole. Making sure that developing countries equally take part in major global governance decision-making is key to just and effective governance. The Chinese side believes that when making international rules, the voice of the Global South must be heard thoroughly, their presence expanded, and their legitimate rights and interests protected.

Wang Yi said that the reform process of the international financial system gravely lags behind, failing to reflect major shifts in the world economic landscape. China supports advancing the realignment of IMF quota shares and shareholding review at the World Bank according to the agreed timeframe and roadmap, so as to promptly address the democratic deficit in global economic and financial governance. China supports the Asian Infrastructure Investment Bank and the New Development Bank in playing a greater role as useful complements to existing financial institutions, jointly contributing to global financial stability.

Wang Yi stated that in the face of major crises and conflicts, the U.N. Security Council has not been able to effectively respond to the expectations of the international community. As a permanent member of the U.N. Security Council, China firmly supports the reform of the Security Council. Upholding the right direction of this reform means to increase the representation and voice of developing countries. The pressing task is to make special arrangements to meet Africa's aspiration as a priority.

Wang Yi said, China believes that the Global South not only has the will and the right but also the capacity to be a pivotal force in global governance reform. Looking forward, global governance will enter the "Global South Time". South Africa, Brazil and Qatar will host respectively the G20 Summit, the U.N. Climate Change Conference (COP30), and the World Summit for Social Development. China will render full support to Global South countries in hosting these meetings, advancing the collective contributions of the Global South to global governance.