The Chinese business circles opposed the report of policy proposals from the two-day B20 summit 2018 held here, saying the summit result failed to truly base itself on the topic discussions or consensus.

On behalf of the Chinese business circles, the China Council for the Promotion of International Trade (CCPIT) and the B20 China Business Council respectively issued a statement on Friday in strong opposition to the policy proposals report as a result of the B20 summit held on Oct. 4-5 in the Argentine capital.

The Chinese business organizations both noted in the statements that Chinese enterprises had taken an active part in the B20 summit this year, put forward multiple conducive proposals during discussions of the working parties on all topics, including fighting unilateralism and protectionism, adopting the principle of neutrality in dealing with enterprises of different ownerships, and advancing the reforms in the World Trade Organization (WTO).

The proposals by Chinese enterprises outlined their stances and the concerns, they said. And in the meantime, the Chinese representatives had conducted multiple consultations with the summit host, and submitted proposed amendments to the text of the summit result report.

The statements said that however, the B20 summit report of policy proposals ignored the proper concerns and demands of the Chinese business circles by one-sidedly singling out certain topics, including state-owned enterprises distorting market competition.

The statements said the summit result report failed to properly represent the discussions, fell short of the purpose of the B20 summit report of policy proposals, and ran far against the B20 summit's consensus principle.

The statements said the Chinese business circles firmly oppose the release of any document based on non-consensus in the name of the B20 summit, and the submission in any form of such documents to G20 leaders.

In the statements, the Chinese business circles also urged the B20 summit to consider their proposals and make substantive changes to the text of its result report.

The B20 summit, a summit of business representatives from the member countries of the G20 bloc, serves as a significant platform for enterprises worldwide to participate in global economic governance. Each year, it produces a report of policy proposals for the G20 leaders.

The G20 leaders summit is scheduled for November in Buenos Aires.