The Group 20 Summit has just opened in St. Petersburg, bringing together leaders from 34 countries and organizations for a two-day summit in Russia's second largest city. Leaders hold their first meeting as the summit gets underway at Constantine Palace.

G20 countries account for 90 percent of the world's GDP. With a focus on economic growth and jobs, world leaders will discuss topics such as sustainable and balanced development, reform of the international monetary and financial system, and quantitative easing policies being implemented by developed countries.

The summit comes as the global economy begins to show signs of weakness. Developed countries are facing severe challenges, such as the debt crisis in the Europe. But concerns are now focusing on emerging markets that have helped drive the global economy for the past several years.

Today, growth has slowed considerably as foreign investors pull their money out, and borrowing costs rise.

(CNTV.cn September 5, 2013)