Leaders attend the G20 Summit in Hangzhou on September 4 (DUAN WEI)
The 11th Group of 20 (G20) Summit is being held in Hangzhou, east China's Zhejiang Province, on September 4-5. President Xi Jinping delivered the opening speech, an edited bilingual excerpt of which follows:
The G20 consists of the world's major economies. The international community has great expectations for the G20 and places high hopes on this summit. I hope that the Hangzhou summit will provide a holistic solution that addresses both the symptoms and root causes of global economic problems and helps achieve strong, sustainable, balanced and inclusive global growth.
We should strengthen macroeconomic policy coordination, jointly promote global growth and maintain financial stability.
We should break a new path for growth and generate new growth momentum.
We should improve global economic governance and strengthen institutional safeguards.
We should build an open global economy and continue to promote facilitation and liberalization of trade and investment.
We should implement the 2030 Agenda for Sustainable Development and promote inclusive development.
The G20 carries high expectations of the international community. We must ensure that the G20 fully plays its role of keeping the world economy on the track of prosperity and stability.
The G20 must keep up with the changing times and lead the way forward. The group should adapt itself to the needs of the global economy and further transform itself from a mechanism of crisis response to one of long-term governance.
The G20 should fully honor its commitments. We should make the G20 an action team instead of a talk shop. This year, we have formulated action plans for many areas, such as sustainable development, green finance, energy efficiency and anti-corruption. Each and every plan should be implemented.
The G20 should become a platform of cooperation, built through joint efforts, which delivers benefits to all. We should continue to strengthen the institutional building of the G20 to sustain and deepen our cooperation. We should solicit proposals for improvement and heed the views of all countries, especially developing countries, so as to make the G20 more inclusive and more responsive to the demands of people of different countries.
The G20 should stick together as partners in meeting challenges. The G20 members differ in national conditions and stages of development and face different challenges. But, we all share the same wish to promote economic growth, the same interest in responding to crises, and the same vision for realizing common development.