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B20 summit: Recommendations on innovation, e-commerce

Reporter: Wu Guoxiu 丨 CCTV.com

06-16-2016 16:56 BJT

Full coverage: G20 Hangzhou Summit

Chinese president Xi Jinping will address the Business 20 summit two days ahead of the G20 meeting, which takes place in China this September. Global business leaders have drafted 20 key policy recommendations on global economic governance.  

A major event within the G20 framework, the B20 is a series of meetings where business leaders from the G20 member nations gather and share ideas and information.

This year, there are six main topics of focus: stimulating growth by finance, trade and investment, basic infrastructure, Small and Medium-Sized Enterprises, employment and anti-corruption.
A policy recommendation report has been drafted, with 20 key policies and 67 detailed recommendations.

“They include the wisdom innovation proposals, green finance, building a world E-Commerce Trade Platform, advancing trade convenience, and improving the employment rate among women and young people. These policies aim to push the global economy's robust, sustainable and balanced growth,” said Yin Zonghua, vice director of China Council for Promotion of International Trade.

These draft recommendations were made after more than 30 work meetings, which have been held since January. Discussions took place on the sidelines of world economic forums like the Davos and the Boao forums.
Six major topic groups are chaired by renowned entrepreneurs, including China'a e-commerce giant Jack Ma, who will also make a speech at the B20 summit.

“Jack Ma raised the concept of building the e-WTP, a global e-commerce trade platform. It'll be a new supplement to the global trade system. The thinking pattern might also stretch into other fields,” said Sun Xiao, report leader of Secretariat of 2016 B20 Working Committee.

This year, the B20 summit will be held on September 3 and 4 in China’s eastern coastal city Hangzhou. Xi Jinping and other G20 leaders will also take part.

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