G20 will help China fulfill global duties

The G20 Leaders' Summit to be held in Hangzhou, East China's Zhejiang province, in September has acquired special importance because of the sluggish global economy. Given its representational nature, members' equal status and flexible arrangement, the G20 is a very important platform for global economic governance. No wonder economic growth and global structural reform are key topics of the Hangzhou G20 summit.

As the rotating chair of the G20, China has made ample preparations for this year's summit, including arranging three coordinators' meetings, three conferences of finance ministers and central bank governors, and multiple ministerial-level meetings. These meetings have already resulted in some agreements, which include the 48 guiding principles and the structural reforms of nine main sectors, ranging from facilitating open investment and trade to promoting innovation. G20 states have also agreed to evaluate the progress of reform every two years according to the standards and principles. And these agreements will be submitted to the summit for further discussions and subsequent approval.

About 30 major agreements are likely to be reached at the Hangzhou G20 summit, making it one of the most fruitful meetings of the group and reflecting the high expectations of the international community from China as the summit host.