Business / Hangzhou G20

Russia and China's partnership will positively impact G20: Russian Ambassador

By Zhu Lingqing ( Updated: 2016-08-31 15:00

The G20 will make substantial contributions, creating conditions to stabilize the complex world economy and achieve overall sustainable growth, said Andrey Ivanovich Denisov, the Russian ambassador to China, in a recent interview with Economic Daily.

The 11th G20 summit will be held in Hangzhou, provincial capital of East China's Zhejiang province, on September 4-5, gathering leaders of the world's 20 leading economies.

Denisov said Russia's close cooperation with China will have positive impact on the cooperative development of the G20.

"The G20 framework, which was established after the 2008 world financial crisis to promote the recovery and growth of the world economy and to bring together influential industrialized and developing economies, is an optimal multilateral cooperation pattern," Denisov said.

He added that the main tasks of the G20 are clarifying challenges and threats to the stable growth of the world economy, developing feasible joint measures, further reforming the global economic governance system by consensus, and making clear the future direction of social and economic development.

During China's G20 presidency, the key agenda items of the summit will include a new path for growth; more effective and efficient global economic and financial governance; robust international trade and investment and inclusive and interconnected development.

Denisov said all of these priorities are consistent with the expectations of Russia and many other countries.

"The Hangzhou G20 summit is expected to be held smoothly, to offer the opportunities and sources for global economic growth and innovation and ultimately achieve significant results," he said. "Russia is willing to provide constructive cooperation and support for China to run the G20 summit."

Denisov thinks the partnership between Russia and China is key to the G20's cooperative action, saying the important roles played by Russia and China in international affairs will establish a prerequisite for the establishment of a reasonable global economic governance framework.

"The global economy cannot be balanced only by Russia and China's efforts, but the coordinated development of the G20 will be positively impacted by the close cooperation between Russia and China and their positive efforts in global economic recovery, as well as their constructive reform measures," he said.

"Russia and China have carried out a large number of joint work to bring promising initiatives to the platform of the G20, proposing suggestions on solving international community problems according to our own experience."

Denisov said the leaders of Russia and China not only meet in the regular annual meetings but also in various international activities, which proves the maturity of the relationship between the two countries and will promote the further development of their relations.

During Russian President Vladimir Putin's visit to China this June, China and Russia vowed to unswervingly deepen their comprehensive strategic partnership, hailing the role of close high-level contact in advancing bilateral ties and promoting regional and global development.

Denisov said these important agreements have entered the actual implementation phase and leaders of both countries still have a lot of bilateral meeting arrangements before the end of this year.

"Given the rapid development of the comprehensive strategic partnership between the two countries, the Russian and Chinese leaders have a lot of common issues and topics to communicate with each other, and the regular meetings will be very significant," said Denisov.

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