The concept of a “community with Shared Future for Mankind” was first proposed in China and has quickly become an integral part of discussions on international relations and global governance. This concept originates from China’s profound insights into the interdependence of nations in the context of globalization, recognizing that the fates of countries are closely interconnected when facing global challenges. With the shifting balance of international forces and the increasing severity of global issues, traditional mechanisms of global governance have shown certain delays and inadequacies. From the difficult birth of climate change agreements to frequent conflicts in international security, from the uneven development brought by economic globalization to the ethical and management issues of emerging technologies, the structure of global governance faces unprecedented challenges. This paper focuses on the research question of how the concept of a “community with Shared Future for Mankind” aligns with and transcends the existing global governance system, using theoretical analysis and practical references for discussion. The findings suggest that the concept provides new ideas and frameworks for addressing global challenges such as climate change and international security, promoting the democratization and efficiency of global governance, especially in enhancing the representativeness and discourse power of developing countries in global decision-making. Additionally, the research identifies the transcendent nature of the concept in global governance, aiming to offer possible directions and strategies for the future development of global governance.