Editor's note: Building a community with a shared future for humanity is one of the key ideas highlighted in the fifth volume of Xi Jinping: The Governance of China. Wang Dong, executive director of the Institute for Global Cooperation and Understanding at Peking University, spoke to China Daily about what he believes the vision means for the world. Below are excerpts of the interview. The views don't necessarily represent those of China Daily.

Today's world is being shaped by profound changes. Rising unilateralism and protectionism, geopolitical conflicts, development gaps, as well as deficits in governance, peace and trust pose challenges to the international system.

China's proposal to build a community with a shared future for humanity aims to tackle these challenges. But it doesn't entail abandoning the existing international system. Rather, the essence of this proposal is the belief that countries should follow the purposes and principles of the Charter of the United Nations, while pressing ahead with efforts to make the international order more just and reasonable.

The idea of building such a community for humanity opposes "deglobalization" and bloc confrontation, and advocates the improvement of the existing international order through "reglobalization", or the reform of globalization, which is being promoted by China and other emerging economies.

Since China put forward the vision of building a community with a shared future for humanity more than 10 years ago, the country has taken concrete actions to create an open, inclusive, clean and beautiful world of lasting peace, universal security and shared prosperity.

For example, China proposed the Belt and Road Initiative, and promoted the joint construction of the Belt and Road. More than 150 countries have joined the initiative. China has focused on key issues such as poverty reduction and food security both at home and abroad, and has been a driving force for delivering on the UN's 2030 Agenda for Sustainable Development. The country worked actively to facilitate the adoption and implementation of the Paris Agreement to tackle climate change. It is also vigorously developing green and low-carbon energy. This shows China is taking on greater responsibility to provide the world with more public goods.

The pathway toward a community with a shared future for humanity is in global governance based on extensive consultation and joint contribution for shared benefit. For this to happen, it is essential that the principle of sovereign equality underpins every stage of global governance, which is in urgent need of reform.

The principle of extensive consultation means discussion by all countries to determine international rules, and that every country has the right to participate equally and voice its demands to prevent a handful of nations making rules on behalf of others.

To achieve joint contribution, all countries should take part in developing and implementing mechanisms and projects on the basis of equal negotiations, instead of enforcing their rules on others.

The idea of shared benefit means the gains of development and governance should be enjoyed by all countries, and that globalization should not become a tool used by a few countries to reap excessive advantages.

This pathway is consistent with the basic principles of the UN Charter, and helps consolidate the core role of the UN in global governance and strengthen true multilateralism.

The Global South not only makes important contributions to the building of a community with a shared future for humanity, but also benefits from the process.

Emerging markets and developing countries account for a significant part of the world in terms of population, economic growth and natural resources, but they have long been underrepresented in global governance, and faced an unfair environment for growth.

Through collective action, countries of the Global South would be able to make the international order fairer and more conducive to win-win cooperation.