China prepares economic solutions for G20

By Wu Jin
0 Comment(s)Print E-mail, August 5, 2016
Adjust font size:

Participants pose for a group photo during a meeting of G20 finance ministers and central bank governors in Chengdu, capital of southwest China's Sichuan Province, July 24, 2016. [Photo/Xinhua] 

China plans to map out a landmark agenda in a bid to boost the global economy during the upcoming G20 Summit, which will be hosted for the first time in the country in less than a month.

The summit will concentrate on solutions that can bring an end to the economic problems that have been afflicting the world since 2008, echoing the meeting's slogan: "Toward an innovative, invigorated, interconnected and inclusive world economy".

During the past few years, the recession has impaired the progress of developed economies, deterred the growths of emerging economies and impacted global trade.

The highly anticipated summit will focus on macro-economic, fiscal and financial policies from around the world. Ruan Zongze, the deputy director of China Institute of International Studies, said he hopes they will make a concerted effort to combat the rise of trade protectionism while highlighting common concerns and mutual assistance.

Before the summit, China convened three meetings between summit coordinators, financial ministers and chiefs of central banks to outline structural reforms spearheaded in nine major areas following 48 guiding principles.

China will also try to push forward international economic governance reform by extending the roles of emerging markets in global financial institutions.

On the G20 platform, China has proposed the idea of building an orderly, fair, just, and inclusive world taxation system. Meanwhile, within China’s endeavor, the G20 members agree to commit to the expansion of infrastructure construction for middle –and-long-term economic growth.

Bringing new impetus to the world economy, the new industrial revolution and associated digital technologies, joint efforts in protesting trade protectionism and plans for the sustainable development are other issues that will be deliberated.

Follow on Twitter and Facebook to join the conversation.
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from