Chinese President Xi Jinping's speech at the Group of 20 (G20) leaders' summit reflects China's "very deep concern" for global community, rallying all nations to address key issues including sustainable development, climate change and the global fight against the pandemic, analysts said.

In a speech delivered on Oct 30 via video link, Xi said the world is "faced with changes and a pandemic both unseen in a century". He encouraged members of the G20, as the premier forum for international economic cooperation, "to shoulder its due responsibilities, bear in mind the future of humanity and the welfare of the people, uphold openness, inclusiveness and win-win cooperation, practice true multilateralism, and promote the building of a community with a shared future for mankind".

Solidarity and cooperation are the "most powerful weapon" against COVID-19, because "with the coronavirus ravaging the whole world, none of us can stay safe on our own".

Renato Redentor Constantino, executive director of the Manila-based think tank Institute for Climate and Sustainable Cities (ICSC), said Xi is "absolutely correct" to state 'none of us can stay safe on our own'.

"It is not enough to just step up macroeconomic policy coordination, however. Looking at the tragedies created by the pandemic and climate change, it is clear we can no longer afford to measure progress with the sole yardstick of productivity and GDP. It is time we establish resilience at the center of macroeconomic fundamentals," Constantino said.

Xi's speech at the G20 "reflects a very deep concern for the global community," said Imtiaz Gul, executive director of the Center for Research and Security Studies in Pakistan.

Xi reiterated that COVID-19 vaccines have to be made a global public good and proposed the creation of a Global Vaccine Cooperation Action Initiative. This initiative involves strengthening of vaccine R&D cooperation, providing more vaccines to developing countries, supporting calls to the World Trade Organization to waive intellectual property rights on COVID-19 vaccines, encouraging vaccine companies to transfer technology to developing countries, scaling up trade cooperation in vaccines, advancing mutual recognition of vaccines in accordance with the World Health Organization's Emergency Use Listing and extending financial support for global vaccine cooperation.

Gul said the speech resonated with the developing countries' demand for more global support in fighting the pandemic.

"By calling for a global initiative to fight the pandemic and to promote trade, the president has basically underlined the need for sticking together and for pursuing the goals of development together," Gul said.

At the same time, the Chinese president has rightly pointed out the fact of credibility, Gul said.

"The president calls out the Western nations for shunning contradictory approaches that they've adopted, not only to China but also on the issue of development particularly dealing with the Third World countries," he said.

X's call for accepting all vaccines for emergency use as advised by the WHO is also a point in which he is underlining the paradoxical position that Western countries have taken with the Chinese vaccines, Gul said.

Xi "highlighted the Chinese role and contribution in making the vaccination accessible and affordable for developing countries," said Karori Singh, emeritus fellow with the South Asia Studies Centre of the University of Rajasthan, India. Xi and Russian President Vladimir Putin both emphasized the need to treat different vaccines equally and advance mutual recognition.

"Moreover, Xi is categorical by saying that 'we need to support WTO in making as early decision on waiving intellectual property rights in COVID-19 vaccine'….to transfer technology to developing countries' as part of his six-point Global Vaccine Cooperation Action Initiative," Sing said, noting both India and South Africa have proposed such IPR waive.

It's clear in Xi's speech that China has "abiding commitment to multilateralism, openness and inclusiveness".

As for UN goals of sustainable development, Singh said, "The creation of 'common prosperity' seems a necessary condition of mitigating the global challenges. Chinese President Xi addressed the G20 Summit against this backdrop."

In his speech, Xi noted how the 2030 Agenda for Sustainable Development is facing "unprecedented challenges" and why it is important to implement a "people-centered approach and make global development more equitable, effective and inclusive, so that no country will be left behind".

Xi is alluding to the Sustainable Development Goals (SDGs). The SDGs, approved by 193 UN members in 2015, aim to solve the world's most pressing problems by 2030. They comprise 17 goals, including eradicating extreme poverty, halting deforestation, promoting gender equality and reducing conflict.

Xi said G20 should prioritize development in macro-policy coordination, ensure sound implementation of the Action Plan on the 2030 Agenda for Sustainable Development, move forward with the Initiative on Supporting Industrialization in Africa and Least Developed Countries, and promote synergy among the existing mechanisms for development cooperation, especially in digital area.

Xi said he has proposed a Global Development Initiative at the UN and called on the international community to strengthen cooperation in poverty alleviation, food security, COVID-19 response and vaccines, development financing, climate change and green development, industrialization, digital economy and connectivity to speed up implementation of the action plan for SGDs.

Advanced economies need to provide more resources for developing countries, Xi said.

Mustafa Izzuddin, senior international affairs analyst, Solaris Strategies Singapore, said Xi's speech demonstrates that China is playing the role of a "good and responsible international citizen".

"Every country in the world, regardless of whether developed or developing -- has a role to make the world a safer, more prosperous and more equitable world," Mustafa said.

Analysts also welcomed Xi's emphasis on green development, a timely point as it was delivered ahead of the 26th United Nations Climate Change Conference (COP 26), which is opening Oct 31 in Glasgow, Scotland, United Kingdom.

Xi said G20 needs to uphold the "principle of common but differentiated responsibilities" and called on developed countries to lead by example on emissions reduction, accommodate the special difficulties and concerns of developing countries, deliver on their commitments of climate financing, and provide technology, capacity-building and other support for developing countries. "This is critically important for the success of the upcoming COP26," he said.

"We will honor our words with actions and work with all countries to pursue a path of green, low-carbon and sustainable development," Xi said.

China has actively advanced the transition to green economy and raised their climate ambitions. China has phased out 120 million kilowatts of installed coal-fired power generation capacity, constructed wind and photovoltaic power stations with a total installed capacity of about 100 million kilowatts and is aiming to peak its carbon emissions before 2030 and achieve carbon neutrality before 2060.

Oh Ei Sun, senior fellow at the Singapore Institute of International Affairs, is looking forward to China's continued leadership in emission reduction.

"China is a good example of a developing country which is able also to reduce its carbon emission by means of innovation and new technology. It's especially timely that this call is repeated ahead of the COP26," Oh said.

Constantino of ICSC said this is the time for China to establish closer ties with groups like the V20 Group of Vulnerable Country Finance Ministers.

"As Western leadership continues to falter, China is faced with a historic opportunity to demonstrate the true meaning of shared leadership. The moral cowardice of countries such as Australia, whose government insists on behaving like a spoiled child in the face of the climate crisis, must stand in contrast with efforts to establish new diplomatic alliances," he said.