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2nd Ld-Writethru: G20 Hangzhou summit to prioritize innovation, reform, development: FM

Xinhua, March 8, 2016 Adjust font size:

The Group of Twenty (G20) Hangzhou summit in September will stress innovation, reform and development, Foreign Minister Wang Yi said Tuesday, as China seeks to break new ground for the world's most closely watched meeting.

President Xi Jinping has clearly expounded on the approach to the G20 summit, which is the most important international conference China will host this year, Wang told a press conference on the sidelines of the annual session of the National People's Congress, China's top legislature.

China will make breakthroughs for the summit by trying to discover new force of growth through innovation, inject new momentum to the world economy through reform and create new prospects through development, Wang said.

For the first time, China will make innovative growth a key topic in the G20 summit agenda, taking the opportunities of new industrial revolution and digital economy to develop a new blueprint for the innovative growth of the world economy, he said.

China stresses the importance of structural reform, encouraging major economies to reach new consensus and work together to pull the world economy back to the track of strong recovery.

China also prioritizes development issues in macropolicy coordination and encourages G20 members to show leadership in implementing the United Nations' 2030 Agenda for Sustainable Development to promote inclusive and interconnected development of the world, he said.

The summit will be held in the eastern Chinese city of Hangzhou on Sept. 4-5, after China took over the G20 presidency in December 2015.

Wang noted the critical role the G20 summit has played in recent years in addressing financial crisis.

Now the world economy has reached another crossroad. How to emerge from the long-time sluggish economy and find new force of growth, and how to effectively coordinate national policies, "the world is turning its eyes to China," he said.

"We believe that the G20 Hangzhou summit will boost confidence, build consensus and point the way forward," he said. "Hangzhou will be a launch pad for the G20 summit. China will be a launch pad for the world economy." Endi