September G20 Summit in China to Boost Global Economic Ties - Official

According to the Chinese state councilor, Beijing is hoping that the upcoming Group of Twenty (G20) summit will boost global economic cooperation and launch a shift in the G20 from a mechanism for crisis response to one of long-term governance.

BEIJING (Sputnik) — The upcoming G20, set to take place in the eastern Chinese city of Hangzhou in September, will enhance international economic cooperation, Chinese State Councilor Yang Jiechi said on Tuesday.

"China hopes that the G20 Hangzhou Summit this year will achieve the following objectives: First, to play a leading role, demonstrate ambition and chart the course for world economic growth. Second, to strengthen international economic cooperation and highlight the spirit of partnership and joint efforts in response to risks and challenges. Third, to innovate institutional building and create cooperation platforms to shift the G20 from a mechanism for crisis response to one of long-term governance," Yang said.

The state councilor added that Beijing had invited non-G20 countries including Egypt, Khazakstan, Spain, Singapore, Laos and Senegal to take part in the full program of the summit as guest countries.

The Group of Twenty is an international forum for the leaders and senior financial official of the world's 20 major economies. The 10th G20 summit was held in Turkey in November 2015.