China will host summit in 2016

President Xi Jinping announced that China will host the G20 summit for the first time in 2016.

"As the 2016 host of the G20 summit, China will continue the momentum of economic growth and make a greater contribution to the global economy," Xi said at the ninth G20 summit, held in Brisbane, Australia, on Saturday.

China will be the second East Asian country to host the summit. The fifth G20 summit was in Seoul, South Korea, in 2010.