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Ministry of Foreign Affairs Holds Briefing for Chinese and Foreign Journalists on G20 Hangzhou Summit

On May 26, 2016, the Ministry of Foreign Affairs held a briefing for Chinese and foreign journalists. Foreign Minister Wang Yi introduced the situation about the G20 Hangzhou Summit and answered questions from journalists.

Wang Yi stated that tomorrow will be the 100-day countdown to the G20 Hangzhou Summit. From September 4 to September 5, President Xi Jinping will join leaders of G20 members and guest countries as well as heads of the international organizations in Hangzhou to discuss world economy cooperation and participate in this grand event of global development. The G20 Summit has been held ten times so far. This year, the baton of the host state has been passed to China. Currently, the world economy is in the midst of important transformation with both opportunities and challenges. The international community is looking forward to this year’s G20 Summit, and expects the G20 Hangzhou Summit to deliver results and to bring the world economy to life. As the host state, we are keenly aware of great responsibilities on our shoulders. We hope that through hosting G20 Hangzhou Summit, we can focus on the core challenges and prominent problems encountered by the world economy, work with all parties to seek for common solutions and contribute China’s wisdom to this cause. We expect that we can offer temporary solutions to stabilize the economic growth at present as well as fundamental solutions to inject new impetus into the economy in the long term, so as to push the G20 Summit to transfer from a crisis responding mechanism to a long-term governance mechanism, lead world economic growth and guide the direction of international economic cooperation.

Wang Yi expressed that at the Antalya Summit last year, President Xi Jinping introduced the theme, key topics and China’s overall hosting plan of the G20 Hangzhou Summit. China adopts “Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy” as the theme of the summit, and sets up four main modules, namely “breaking a new path for growth”, “more effective and efficient global economic and financial governance”, “robust international trade and investment”, and “inclusive and interconnected development”. The theme and topics proposed by China are highly recognized and supported by all members. It is widely considered that China’s ideas not only show a long-term and strategic vision, but also demonstrate broad horizon and ambition level.

Wang Yi introduced that G20 events will continue throughout the whole year of 2016, with Hangzhou Summit being the most important one. 2016 will see 66 meetings of various kinds held in 20 cities of China, with the number of attendees up to tens of thousands. The G20 not only belongs to its member countries but also belongs to the world, and it focuses not only on the wellbeing of its own but also the common development of all human beings. So far, China is halfway through its term since assuming the presidency of the G20, and it has achieved remarkable achievements. China, as well as the city of Hangzhou, is ready for all distinguished guests from different countries to come. The following 100 days will witness the final spurt of the preparation of the Hangzhou Summit. China will also hold several Sherpa Meetings, meetings on financial track, ministerial meetings and various supporting activities, in a bid to expand consensus and consolidate achievements.

Wang Yi said that China will stick to the problem-oriented principle in the Summit. In dealing with the differentiation of policies of different countries, we will push the increase of macro policies coordination in order to avoid the negative spillover effects. As for the temporary shortage of impetus during the transition period, we will advocate exploring new driving forces from innovation and reforms in order to achieve a strong, sustainable and balanced growth. We will facilitate and improve global economic governance and maintain international financial stability to solve risks and uncertainties in the global economy. Facing the downturn of trade and investment and the rise of protectionism, we will advance the revival of the two major engines and build an open global economy. China will promote the G20 to take the lead in pursuing cooperation for sustainable development throughout the world in a bid to bridge the development gap.

Wang Yi pointed out that in order to achieve the above goals, we are working together with other parties to strive to deliver ten results from the Hangzhou Summit. The first is to develop a blueprint of innovative growth. The second is to formulate action plans for the implementation of the 2030 Agenda for Sustainable Development. The third is to identify priority areas, guiding principles and index system for the structural reform. The fourth is to draft strategies for global trade growth. The fifth is to set out guiding principles for global investment policy. The sixth is to deepen the reform of international financial architecture. The seventh is to establish the three-in-one anti-corruption cooperation. The eighth is to launch a cooperative initiative to support the industrialization of African countries and the least developed countries. The ninth is to draw up entrepreneurship action plans. The tenth is to promote the early entry into force of the Paris Agreement on climate change. We look forward that the Hangzhou Summit, with concerted efforts of all parties, can build a solid defense line for the world economy, jointly boost world economic growth, promote international economic cooperation and strengthen global economic governance.

Wang Yi pointed out that in addition to the results above, there are also two highlights can be expected in Hangzhou Summit. The first is the diverse and colorful special events. We have arranged the largest ever business summit to be simultaneously held with the leaders’ summit. President Xi Jinping will attend the summit and deliver a keynote speech. Before the G20 Leaders’ Summit, an informal meeting of BRICS leaders will be held. The G20 Leaders’ Summit will kick off on the afternoon of September 4 and close on the afternoon of September 5. President Xi Jinping will preside over the meeting. After the summit, President Xi Jinping will also hold a press conference for Chinese and foreign journalists and introduce the results of the summit. The second is the open and inclusive atmosphere throughout the summit. The Chinese side always pays attention to opinions from all sides, and respects different voices. China maintains close communication and interaction with G20 member states, guest countries and international organizations. Through hosting large-scale side events, China will listen to extensive voices from the society and forge the consensus with the widest coverage. China has proactively pursued the principle of “going global”, and launched comprehensive and multi-layered dialogues outside the G20 circle. We have walked into the UN General Assembly, the G77, the headquarters of the African Union and the least developed countries to introduce the summit situation and hear their appeals. The dialogue has covered all UN members, especially more than 130 developing countries.

Wang Yi expressed that final preparations are the most crucial part and thus demand rigorous and practical efforts. The summit can’t be a success without the great support and cooperation of all parties. We will continue to uphold the open, inclusive and transparent style and strengthen communication and coordination with all parties to ensure the complete success of the summit, so as to achieve a win-win situation for the G20 members and promote the global economy to take a new step toward the target of strong, sustainable and balanced growth. To this end, we are full of confidence. The scroll of the G20 Hangzhou Summit is slowly unfolding. Let us look forward to it together. See you in September!

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