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Saturday, August 27, 2016

G20 to Adopt Plan to Help Achieve Global Economic Growth




Group of Twenty will adopt an action plan to help achieve global economic growth strong, sustainable and balanced and comprehensive

The Chinese Foreign Ministry confirmed that the Group of Twenty summit, which is hosted by the Hangzhou city in Zhejiang province in eastern China after less than ten days, will adopt an action plan to help achieve global economic growth strong, sustainable and balanced and comprehensive. ,

Said ministry spokesman Le Kang, in an official statement, he due to suffer from the global economic slowdown, with growth rates did not exceed more than 3% during the past five years, China has reached consensus with all the other parties involved in the summit, to ensure a world trade system is safe and open - minded, and seek to achieve a comprehensive growth of benefit to everyone.

he said 'if', that a slowing economy and shrinking global trade volume has become a matter of concern, fears and hamper efforts to push the recovery of the global economy, so China believes that under such difficult circumstances it is the duty of all countries unite together, explaining that Group of twenty itself had been founded in 1999 due to the financial crises in the nineties in order to strengthen international collaboration to achieve international financial stability and create opportunities for dialogue between industrialized and emerging countries, and dealing with global economic issues.

the spokesman said Foreign Ministry spokesman that the fight against trade and investment protectionism, and work to strengthen trade growth and investment will be among the central topics will focus on the summit, referring to the international consensus in this regard.

it is noteworthy that Yi Gang, deputy governor of the PBOC , the central bank, had indicated during the financial forum held on Friday that the top twenty the next will discuss three documents relating to inclusive finance task to guide the global sector development. The 'Gang', that these three documents related to the high - level principles, and a new economic indicator, and financing services to small and medium-sized companies, as they would call to promote the use of digital technology and seeking to strike a balance between innovation and risk , and calls for the establishment of a regulatory framework appropriate.

He pointed out in his remarks carried by the official Chinese news agency, that it will address the importance of improving the current economic index system, and included new indicators, such as the payment of digital, especially that rapid change is one of the overall finance sector properties. as priority is given to improve the documentation of credit for small and medium businesses and systems bankruptcy system, and encourages financial institutions to make backed by immovable property loans.

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