Regulatory synergy needed for global growth

This century has seen extraordinary developments in China's long history as a great trading nation. In 2001, China was admitted to the World Trade Organization, and in 2015, the renminbi was admitted to the International Monetary Fund's basket of reserve currencies.

China's economic ascendancy has coincided with deeper engagement and interdependence with its trading partners. This year, China will for the first time host a G20 Leaders Summit.

Chairing the world's top forum for economic cooperation is an exciting moment for the nation. In remarks delivered at the 2015 summit in Antalya, Turkey, that were warmly supported by professional accountants, President Xi Jinping called for the world to shoulder a collective responsibility to promote growth.