China expects further co-op at G20 summit

Updated: 2013-09-06 13:43


  Print Mail Large  Medium  Small    

BEIJING - Leaders of the Group of 20 (G20) economies gathered in the northwestern Russian city of St. Petersburg Thursday to discuss the world's current economic and financial situation.

In the face of a sluggish recovery in developed countries and fluctuations in emerging economies, the leaders will aim for further cooperation on the economic front.

Differences among members on political and security issues have strained the spirit of cooperation ahead of the summit.

However, the world still needs cohesion at the summit, which is expected to focus on the common interests of ensuring the global economy's stead recovery, rather than their political differences.

China, the world's second largest economy, hopes the summit will push forward cooperation, opening-up, reforms and further development.


Since the first G20 summit in 2009, leaders of the world's major economies have shown unprecedented courage and vision in promoting development, which has gradually established the summit as the top forum for global economic cooperation.

Prior to the summit, Chinese President Xi Jinping described the G20 as a "major forum for international economic cooperation" that would push the international community to strengthen coordination on macro economic policy.

Nevertheless, the summit has been distracted by a number of political factors, especially Washington's PRISM spying program and the Syrian crisis.

Although G20 members account for some 90 percent of the global economy, the group should not act as the UN and be involved in political and security disputes, but cooperate for "growth and employment" to cure the ailing global economy.

Chinese leaders have made clear that China's best contribution to the global economy is to ensure its own economic development and enhance economic competitiveness through structural reform.

Thanks to the dividend of reform, China's economic development will become steadier in the future.

In an ever-interconnecting world, it is indispensable for countries to coordinate their economic policy, which is the main aim of the G20.

The recent financial turbulence in emerging markets was partly caused by the U.S. Federal Reserve's move to taper down quantitative easing. As this kind of policy change has obvious spillovers, G20 members should communicate with each other effectively to guide the market.

Previous Page 1 2 3 Next Page



President Xi visits Central Asia, attends G20, SCO summits

Sept 3 to 13: Pay state visits to Turkmenistan, Kazakhstan, Uzbekistan and Kyrgyzstan.

Sept 5 to 6: Attend the eighth Leaders' Summit of the Group of Twenty (G20) in St. Petersburg.

Sept 13: Attend the 13th Meeting of the Council of Heads of Member States of the Shanghai Cooperation Organization (SCO) in Bishkek, the capital of Kyrgyzstan.


Chinese economy will not collapse

The Chinese government has steered their megacarrier through choppy seas quite successfully.

China's role in G20

I saw a China that is much more confident to put itself forward at G20 summit.


Beijing backs truce bid in Syria

Ties with Kyrgyzstan upgraded

Student's rare blood bonds Kazakhstan and China

Xi 'travels in time' along the ancient trade route

Xi in Kyrgyzstan for state visit, SCO summit

Silk Road to take on a new look