Business / Hangzhou G20


( Updated: 2016-09-06 15:57

G20 members are determined to point out the direction and chart the path for the world economy.

"We share the view that the world economic recovery remains weak, weighed down by insufficient drivers of growth and negative impact of regional and international hot-spots and global challenges," President Xi Jinping said. It is crucial to maintain peace and stability and foster an enabling environment for world economic development. "We will further strengthen macro-policy dialogue and coordination, work in the spirit of partnership to promote mutual help and win-win cooperation, and concentrate our minds and energy to pursue strong, sustainable, balanced and inclusive growth. We have adopted the G20 Leaders' Communiqué of the Hangzhou Summit. It sets out the direction, goals and steps for G20 cooperation, embodies the Hangzhou Consensus for growth, and provides the blueprint for building an innovative, invigorated, interconnected and inclusive world economy."

G20 members believe that addressing the risks and challenges to today's world economy requires multi-pronged solution to tackle both the symptoms and the root causes. A host of effective policy tools, fiscal, monetary and structural, must be leveraged to sharpen vigilance and buffer against short-term risks, unleash medium- to long-term potential, ensure sufficient aggregate demand, and improve the quality of supply. This will send a strong signal of G20's commitment to global growth, and will go a long way to shoring up market confidence and ensuring stability of global financial markets.

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