G20 summit aims to spur new economic growth

%3CP%20align%3Dcenter%3E%3CIMG%20border%3D0%20src%3D%22/new_maoyi_en/cn/admin/news/NewsFile/-1/201681695133738.jpg%22%20width%3D500%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EFile%20photo%20taken%20on%20May%2024%2C%202016%20shows%20an%20aerial%20view%20of%20expressways%20linking%20Hangzhou%20Xiaoshan%20International%20Airport%20at%20night%20in%20Hangzhou%2C%20east%20China%27s%20Zhejiang%20Province.%20Hangzhou%20is%20the%20host%20city%20for%20the%202016%20G20%20summit%20on%20Sept.%204%20and%20Sept.%205.%20With%20one%20month%20to%20go%2C%20Hangzhou%20looks%20forward%20to%20G20.%20%28Xinhua/Huang%20Zongzhi%29%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20hopes%20the%20Group%20of%2020%20%28G20%29%20summit%20in%20Hangzhou%20in%20September%20will%20spur%20new%20global%20economic%20growth%2C%20a%20Chinese%20official%20said%20Monday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20put%20forward%20a%20blueprint%20for%20innovation-driven%20growth%20at%20this%20year%27s%20summit%20in%20Hangzhou%2C%20capital%20of%20east%20China%27s%20Zhejiang%20Province%2C%20to%20find%20new%20drivers%20of%20global%20growth%2C%20Vice%20Foreign%20Minister%20Li%20Baodong%20said%20at%20a%20press%20briefing.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EInnovation%2C%20introduced%20on%20the%20G20%20agenda%20for%20the%20first%20time%2C%20is%20%22the%20key%20for%20boosting%20global%20economic%20potential%2C%22%20said%20Yao%20Zhizhong%2C%20a%20professor%20with%20the%20Chinese%20Academy%20of%20Social%20Sciences.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20also%20hopes%20to%20promote%20structural%20reform%2C%20improve%20global%20economic%20and%20financial%20governance%2C%20strengthen%20financial%2C%20tax%2C%20energy%20and%20anti-corruption%20cooperation%20and%20revitalize%20trade%20and%20investment%20at%20the%20summit%2C%20Li%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20summit%20is%20also%20expected%20to%20focus%20on%20developing%20countries%2C%20implementation%20of%20the%202030%20Agenda%20for%20Sustainable%20Development%20and%20support%20for%20Africa%27s%20industrialization.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20summit%20will%20have%20the%20best%20representation%20of%20developing%20countries%20in%20G20%20history.%20China%20has%20invited%20a%20record%20number%20of%20developing%20countries%2C%20including%20Chad%2C%20chair%20of%20the%20African%20Union%3B%20Laos%2C%20chair%20of%20the%20Association%20of%20Southeast%20Asian%20Nations%20%28ASEAN%29%3B%20Senegal%2C%20chair%20of%20the%20New%20Partnership%20for%20Africa%27s%20Development%20%28NEPAD%29%3B%20Egypt%3B%20and%20Kazakhstan.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20has%20said%20it%20will%20push%20for%20the%20adoption%20of%20a%20global%20trade%20growth%20strategy%20to%20reverse%20the%20downward%20trend%20in%20global%20trade%20growth%20and%20lay%20out%20guiding%20principles%20for%20global%20investment%20policies%20to%20facilitate%20cross-border%20investment.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20summit%20will%20further%20focus%20on%20dealing%20with%20pressing%20risks%20facing%20the%20global%20economy%20and%20financial%20market%2C%22%20Zhu%20Guangyao%2C%20China%27s%20vice%20finance%20minister%2C%20said%20at%20the%20press%20briefing.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20has%20called%20on%20G20%20members%20to%20refrain%20from%20competitive%20devaluation%20and%20facilitated%20discussions%20on%20the%20foreign%20exchange%20market%20within%20the%20G20%20framework%2C%20the%20first%20time%20in%20G20%20history%2C%20to%20build%20confidence%20in%20the%20market%2C%20said%20Yi%20Gang%2C%20vice%20governor%20of%20the%20People%27s%20Bank%20of%20China%20%28PBOC%29.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EOn%20financial%20reform%2C%20the%20summit%20will%20produce%20outcomes%20on%20establishing%20an%20open%20and%20prudent%20financial%20system%2C%20setting%20up%20a%20macroprudential%20policy%20framework%20and%20developing%20inclusive%20finance%2C%20Yi%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESince%20assuming%20the%20G20%20presidency%2C%20China%20has%20done%20a%20lot%20to%20promote%20international%20economic%20governance%20reform%2C%20including%20restarting%20the%20International%20Financial%20Architecture%20Working%20Group%20to%20improve%20international%20financial%20governance.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20has%20put%20green%20financing%20on%20the%20G20%20agenda%20for%20the%20first%20time%20to%20mobilize%20more%20investment%20in%20environmentally%20friendly%20projects.%20The%20G20%20has%20set%20up%20a%20research%20team%20on%20the%20issue%20based%20on%20a%20proposal%20by%20China.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20summit%20will%20release%20the%20first%20report%20on%20G20%20green%20financing%2C%20specifying%20its%20definition%2C%20purpose%2C%20scope%20and%20challenges%2C%22%20said%20Yi.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28Ecns.cn%29%3CBR%3E%3C/FONT%3E%3C/P%3E