2016年CRI G20 Hangzhou Summit concludes with extensive consensus on world economic growth reached

Addressing the media following the official conclusion of the G20 in Hangzhou, Chinese President Xi Jinping says all intended objectives have been reached at the sessions through the solid efforts of the G20 members, as well as guest countries and international organizations.

He says he believes his G20 counterparts understand the position they're in right now.

"The Hangzhou summit has been held at a critical time for world economic growth and the transformation 1 of the G20, at a time when world economic recovery is sluggish 2, and greatly affected 3 by international and regional issues, as well as world-wide challenges, which bring risks and uncertainties 4. This is why this summit in China has attracted such wide attention, with the world carrying high expectations."

This year's Summit keyed-in on a number of areas, including global economic and financial governance, international trade and investment, as well as integrated development strategies.

Prominent issues such as climate change, refugees, anti-terrorism and public health have also been discussed.

A G20 Leaders' Communiqué from the Hangzhou Summit has been adopted to set out the direction the group wants to take.

It includes targets and steps needed to maintain growth in the world economy.

President Xi Jinping says the main thrust of the Communiqué is a goal to work together for long-term development.

"G20 members should not only take effective measures to buffer 5 against short-term risks, but also work to try to unleash 6 medium to long-term growth potential; not only expand aggregate 7 demand but also improve the quality of supply. We are confident that, through the joint 8 efforts of all parties, we can bring the world economy back to a strong, sustainable, balanced and inclusive growth track."

G20 members have also agreed to strengthen trade and investment mechanisms 9 among the group.

This will include the adoption 10 of multilateral trading systems, as well as a pledge to avoid market protectionism.

A document called the G20 Guiding Principles for Global Investment Policymaking has also been approved, with the goal to switch the mindset among G20 countries from short-term crisis responses to more longer-term governance ideas.

In an issue important to the Chinese government, Xi Jinping says G20 members have also agreed to become more active in anti-corruption 11 campaigns.

"Important breakthroughs have been made this year in anti-graft areas in terms of fugitive 12 repatriation 13 and asset recovery. High level principles on persons sought for corruption and asset recovery, as well as a G20 2017-2018 anti-corruption action plan were formulated 14, while the establishment of a research center on the issue was also agreed upon."

The G20 leaders have also adopted policies to promote green financing and the creation of climate funds to help support environmental causes.

China now hands the G20 chair over to Germany, with next year's Leaders’ Summit set for the city of Hamburg.