Think tanks forum prepares for G20 China summit

Top think tanks from G20 member countries convened for a forum on the global economy at Beijing's Renmin University on Thursday.

Participants said the forum, the third such event, will pave the way for China's hosting of the G20 summit next year.

"China has been in full swing in preparation for the 2016 summit, and is drawing up preliminary themes and topics for the event based on extensive suggestions from G20 members, international organizations, scholars and experts," Zhang Jun, director general of the Department of International Economic Affairs of China's Ministry of Foreign Affairs, said in a key note speech on Thursday.

"The G20 are faced with a major challenge to lead the global economy out of years of low growth after the financial crisis and realize strong, sustainable and balanced growth," according to a report released at the forum's opening ceremony.

"China is expected to propose quantified five-year targets till 2021 during the 2016 summit," it added.

The report also suggested an executive secretariat be established for the G20 to better coordinate work between member nations. It proposed China as the venue for the secretariat's office.

Unlike many other international organizations, the G20 has no permanent staff of its own. Its chair rotates between members and is selected from a different regional grouping of countries each year.

John Kirton, co-director of the G20 Research Group at the University of Toronto, said the G20 must enhance institutionalization and that a fixed and fully-authorized secretariat in China was feasible.

This year's G20 summit will be held in November in Antalya, Turkey. Endi