G20 summit concludes with historic consensus on world growth

HANGZHOU, Sept. 5 (Xinhua) — The 11th summit of the Group of 20 (G20) major economies concluded here on Monday, reaching extensive consensus on pursuing innovative, invigorated, interconnected and inclusive world economic growth.

“Held at a critical time for world economic growth and the transformation of G20, the Hangzhou summit attracted wide attention from the whole world and carried high expectations,” Xi said at a press conference after the summit concluded.

From Sunday to Monday, leaders of G20 members, guest countries and international organizations exchanged views on topics including more effective global economic and financial governance, robust international trade and investment, inclusive and interconnected development.

They also discussed prominent issues affecting the world economy, including climate change, refugee, anti-terrorism financing and global public health.

Xi said at the closing meeting that leaders attending the summit decided to point the way and set the course for the world economy.

“Facing current risks and challenges in the world economy, we will continue to reinforce macro policy communication and coordination,” Xi said.

“We are determined to break a new path for growth to inject new dynamism into the world economy,” Xi said, adding that a G20 Blueprint on Innovative Growth was unanimously adopted at the summit.

The leaders were also determined to improve global economic and financial governance to enhance the resilience of the world economy, and to revitalize international trade and investment as the key engines of growth and build an open world economy, the president said.

Consensus was also made to promote inclusive and interconnected development, so that G20 cooperation will deliver benefits to the whole world, according to Xi.

A communique was adopted at the summit, clarifying the development direction, targets and measures of G20 cooperation, while the Hangzhou Consensus was reached on facilitating world economic growth through long-term, comprehensive, open, innovative and inclusive measures, according to Xi.

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