Under the theme of “Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy,” this year’s G20 Summit is scheduled on Sept 4-5 in the eastern Chinese city of Hangzhou.
Let’s take a look at six things you should know about the summit.
1. President Xi’s G20 schedule
President Xi Jinping will attend a series of meeting prior to, during and after the G20 Summit.
Xi will deliver a keynote address at the opening ceremony of the B20 business forum on Sept 3 and preside over and chair more than 10 events during the G20 Summit, including the welcoming and opening ceremonies, five key section meetings and the closing ceremony.
The president will also hold bilateral talks with leaders of various countries, attend and address an informal meeting with other leaders of the BRICS countries.
2. First of G20 Hangzhou summit
G20, which represent 85 percent of global GDP, 80 percent of international trade and 65 percent of the world population, is considered one of the most influential platforms for global financial governance.
Chinese Vice-Foreign Minister Li Baodong said earlier that discussions will focus on many issues, including breaking new paths for growth, effective global economic and financial governance, robust international trade and investment, as well as inclusive and interconnected development.
G20 has held 10 summits since the 2008 global financial crisis. Chen Fengying, a research fellow with the China Institute for Contemporary International Relations, said the summit will enable China to approach world issues with Chinese concepts, wisdom and ideas.
Reuters, MCI
3. Bilateral diplomacy
The G20 Summit is not only a key multilateral meeting but also important for bilateral diplomacy. G20 leaders, eight state guests of honor and leaders of seven international organizations will attend the summit. On the sidelines of the summit, President Xi will meet leaders from several countries, including his US counterpart Barack Obama.
In addition, Brazil’s new President Michel Temer, and Britain’s Prime Minister Theresa May will visit China for the first time. Experts said these “first times” will create new opportunities for bilateral development. This is also Canadian Prime Minister Justin Trudeau’s first visit to the country.
4. Why so many developing countries?
Laos, Chad, Senegal, Thailand, Kazakhstan and Egypt are developing countries without G20 membership, but their participation will enable the G20 Hangzhou summit to become one attended by the most number of developing countries in G20 history.
Ruan Zongze, executive deputy president of the China Institute of International Studies, said the G20 is set to address development issues. While developing countries are less represented in some international institutions, the Group of 20, which acts as a major forum for global economic governance, should allow developing countries to have a bigger say.
5. B20 summit topics
More than 800 business leaders around the world will join the Business 20 summit on Saturday and Sunday. Multinationals, small and medium-sized enterprises, and heads of states will join the summit.
The B20 summit has six major topics: financing growth, trade and investment, infrastructure, small and medium-sized enterprises, employment and anti-corruption.
B20 policy recommendations will be submitted to the G20 summit. With more than half of the business representatives coming from China, Chinese entrepreneurs will be deeply involved in making international rules.
6. Anti-corruption network
With China’s efforts, anti-corruption will become a major topic at the summit.
Li Chengyan, head of the Center for Anti-Corruption Studies at Peking University, said one of the expected achievements of the summit will be the creation of a three-in-one anti-corruption system: all members’ unified agreement on the legal identification of corruption; the building of a coordinated mechanism to pursue fugitives and stolen assets; and the coordinated actions of members in law implementation.
The summit will also implement the UN Convention Against Corruption, according to Li.
