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Xi offers Chinese solutions for global growth, Asia-Pacific development at G20, APEC summits

(Xinhua) Updated: 2015-11-20 19:26

Xi offers Chinese solutions for global growth, Asia-Pacific development at G20, APEC summits

President Xi Jinping attends the first session of the 10th summit of the Group of Twenty (G20) major economies in Antalya, Turkey, Nov 15, 2015. [Photo/Xinhua]

BEIJING - President Xi Jinping on Thursday wrapped up his trip to Turkey and the Philippines after expounding China's views and proposals on world economy and Asia-Pacific development at two multilateral summits.

Xi's attendance at the Group of Twenty (G20) summit in Antalya and the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Manila was very productive and demonstrated China's sincerity in and constructive attitude towards promoting global growth and advancing Asia-Pacific cooperation, said Chinese Foreign Minister Wang Yi.

Offering Chinese prescription for world economic malaise

Taking on the sluggish world economic recovery, Xi offered his insights by answering two fundamental questions: how to see it and how to address it, Wang said.

At the G20 summit, the Chinese president pointed out the focus of the malaise weakening the global economy: The momentum generated by the last round of scientific and industrial revolution is waning, the potential of the traditional economic system and development model is diminishing, the problem of uneven development remains far from being solved, and the deficiencies of the existing economic governance mechanism and structure are coming to the surface.

To deal with those challenges, Xi urged all G20 members to, among others, strengthen communication and coordination on macro-policy, promote reform and innovation, build an open world economy and implement the 2030 Agenda for Sustainable Development.

Those proposals, said the foreign minister, were highly valued by world leaders attending the G20 summit.

As Xi has announced that China will host the 2016 G20 summit in the eastern city of Hangzhou, expectations are running high on China's presidency, Wang noted.

All sides hope that China will reunite G20 members to make new contributions to fundamentally boosting the world economy, tackling deep-level issues and transforming the role of the G20 mechanism, added the minister.

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