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Tuesday, November 17, 2015, 09:23

China to host 2016 G20 summit Sept 4-5: Xi

By Xinhua

China to host 2016 G20 summit Sept 4-5: Xi
In this Nov 15, 2015 photo, Chinese President Xi Jinping, signs the group photo of the G-20 leaders, taken earlier that day , as he arrives for a reception in Antalya, Turkey. (Anadolu Agency via AP, Pool)

ANTALYA - China will host the 2016 Group of Twenty (G20) summit in the eastern city of Hangzhou, best known for its scenic West Lake, during Sept 4-5, 2016, President Xi Jinping announced here Monday.

Its theme will be "Building an innovative, invigorated, interconnected and inclusive world economy," Xi said while addressing a working lunch during the just-concluded 10th G20 summit in this Turkish resort city.

China's preparations, Xi told world leaders, will be focused on innovating upon growth patterns, improving global economic and financial governance, boosting international trade and investment, and promoting inclusive and interconnected development.

"We need to increase the representation and voice of the emerging-market economies and developing countries (in global governance), so as to enhance the capabilities of the world economy to resist risks," the President said.

Explaining China's selection of the theme and priorities, Xi noted that although the world economy has walked out of crisis, the recovery remains highly fragile and growth underpowered.

"The trends and policies of major economies are becoming increasingly divergent," he said. "We are in dire need of new sources of growth to push for a new round of prosperity for the world economy."

Meanwhile, the reform of global economic governance has not progressed smoothly over recent years, and the G20 members need to take concerted actions to lead international economic cooperation, Xi added.

The President also called for concerted efforts to help the group shift from a mechanism of crisis response to one of long-term governance, so as to consolidate its status as a main forum for global economic governance.

"China will take an open, transparent and inclusive attitude in the preparations, and will enhance communication and coordination with all G20 members to jointly maintain, build and develop the group in a sound way," Xi said.

China will take over the G20 presidency on Dec 1, 2015, and a series of related meetings will be held next year, according to Wang Xiaolong, the Chinese Foreign Ministry's special envoy on G20 affairs.

US President Barack Obama voiced support for China's presidency, saying that he looks forward to attending the Hangzhou summit.

The United States is willing to work with China closely to ensure the success of the meeting, Obama told Xi on the sidelines of the Antalya summit.

Hangzhou, a centuries-old city with a population of nearly 8.9 million, is the capital and largest city of Zhejiang Province.

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