China Assumes G20 Presidency for 2016

02/01/2016 - 1:27pm

China officially assumed the presidency of the G20 on December 1, 2015. China’s G20 Presidency in 2016 will work together with all members “Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy."

The key agenda items are:

  1. Breaking a New Path for Growth
  2. More Effective and Efficient Global Economic and Financial Governance
  3. Robust International Trade and Investment
  4. Inclusive and Interconnected Development

Chinese President Xi Jinping, in his December 1 , 2015 address regarding the 2016 G20 Summit in China, said: “We should embrace the vision of a global community of shared future, enhance economic connectivity and exchanges among countries and improve global economic and financial governance so as to address inequality and imbalance in global development and ensure that the benefits of economic growth will be equitably shared by people of all countries.” The Chinese Presidency aims to deepen the international development cooperation and reduce inequalities and imbalances in global development. To achieve this goal, China will take concrete actions to implement its G20 agenda, with a focus on financial inclusion.

In 2016, under China’s Presidency, GPFI with its four Subgroups supported by all G20 countries, non-G20 countries and Implementing Partners, will work together toward the achievement of innovative, invigorated and interconnected financial inclusion around the world. By convention, the past, current, and next G20 Chairs (Turkey, China and Germany) have been inaugurated as the new G20 Troika, as well as the new GPFI Co-Chairs.

China will hold the 2016 G20 summit in Hangzhou, Zhejiang province on September 4-5.

(Photo By: Yew Kiat Soh)