CHINA will propose a joint initiative to revive weak global growth at next month’s meeting of leaders of Group of 20 major economies amid rising protectionist sentiment in the United States and Europe, officials said yesterday.
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The British side expressed support for China in hosting a successful summit, hoping to strengthen cooperation with the Chinese side on trade and global issues.
When asked whether China will allow discussion of the South China Sea issue during the September 4-5 summit meeting, Vice Foreign Minister Li Baodong said leaders shouldn’t be distracted by other topics.
The 11th summit will be held from September 4-5.
Chinese President Xi Jinping will host his four BRICS counterparts for an informal BRICS leaders meeting on the sidelines of the G20 Summit, the Chinese Foreign Ministry said on Monday.
For more on the forthcoming G20 summit, we’re joined now in the studio by our current affairs commentator, Xu Qinduo.
China’s Commerce Minister warned last month that global cross-border investment may decline by as much as 15 per cent this year as trade remains sluggish. According to the event organizers, the main topic of the summit will be to find new ways of development of the world economy.
“The summit will release the first report on G20 green financing, specifying its definition, purpose, scope and challenges”, said Yi.
Interconnection and inclusiveness indicate development through infrastructure interconnection, the strengthening role of multilateral development banks and implementation of the 2030 UN Agenda for Sustainable Growth, she said.
The G20 will also discuss how to better monitor and respond to risks presented by global capital flows, he said. From China’s perspective, since the Chinese yuan’s inclusion in the Special Drawing Rights takes effect in October, domestic financial regulators may need to make certain adjustments to the foreign exchange policies, Huo Jianguo, vice chairman of the China Society for WTO Studies told the Global Times on Monday.
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Li Baodong, China’s Vice Foreign Minister, said, “The upcoming G20 will discuss the member countries’ economic structural reform, global financial organization reform, and cooperation in the energy and anti-corruption fields”.
