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G20 members agreed on a multi-pronged approach of “using all policy tools-monetary, fiscal and structural-individually and collectively” to support growth, and this marked a milestone in the G20’s recent history of macroeconomic policy coordination.
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The discussion over international taxation led by China mainly highlights the role taxation plays in boosting economic and fiscal growth, more reforms should be launched to boost taxation revenue and improve fairness.
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As the largest online retail platform in China and even the world, Alibaba can be the springboard of SMEs, multinational corporation and even a whole economy to sell products and services to Chinese market, he said, adding that such a new business ecology will lead the trend of the world.
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By Yu Yang, Shi Pengfei, Hu Zexi, Huang Fahong from the People’s Daily China’s "Belt and Road" initiative has become a major buzzword at the G20 Hangzhou Summit. Experts have stated that as a proposal aimed at boosting economic development, the initiative and the G20, as
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“As today’s world is now undergoing a paradigm shift, innovation plays a key role in boosting economic growth and prosperity.”
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Taking “World Peace Dream” as a theme, the dough figurines, or mianhua as they are known in Chinese, were made based on cartoon caricatures of these leaders.
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“China is already an important economic global actor. Through strengthening global economic governance architecture, the G20 has the potential to help China expand its role in global economic governance,” Ersoy concluded.
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By Li Lihui from the People’s Daily China will establish a green development fund to invest in environmentally-friendly industries, an official with the country’s Ministry of Finance told the People’s Daily, adding that the move is a signal for the country’s policy on green investment.
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China has proposed the G20 formulate high-level principles on international fugitive repatriation and asset recovery, set up a research center in this field and drafted a 2017-2018 anti-corruption action plan.
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Acting as host brings several complexities for China. The government announced that this meeting must address global economic issues and consider how to develop the role of the G20.
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China's banks provided a total of 7.26 trillion yuan ($1.09 trillion) in green credit by the end of June this year, accounting for 9 percent of total loans from 21 major banks and financial institutions.
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With outstanding leadership and professional teams from various fields, China, together with G20 members, OECD, International Monetary Fund, WTO and other international organizations, have made a content-rich agenda for the upcoming G20 Hangzhou Summit.