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Think 20 Summit opens in Beijing

Reporter: Su Yuting 丨 CCTV.com

07-30-2016 03:40 BJT

Full coverage: G20 Hangzhou Summit

The "Think 20" summit has kicked off in Beijing, one month ahead of this year's G20 summit, which will be held in Hangzhou. Participants at the "Think 20" summit will conduct important research and analysis that can be used during the G20 talks.

Think tanks, and researchers from G20 countries are in Beijing for this year's "Think 20" -- or T20 summit.

The T20 is considered to be the intellectural backbone of the premier forum for economic cooperation -- the G20 summit, which will be held this September in Hangzhou.

With the world economy still sluggish following the 2008 financial crisis -- and Britain's exit from the EU creating uncertainty in the world's financial markets -- participants are hard at work finding effective solutions.

"Problems have not been solved and new challenges are emerging. It's hard to boost the economy if you only rely on fiscal policy and monetary policy. You cannot ignore the impacts that the Brexit referendum, Turkey's political instability, and recent terrorism activities in France and Germany have had on the world economy. Everyone has high expectations for the G20 summit in Hangzhou. We are all hoping that the G20 can play a leading role, and direct a clear and bright path forward amid the chaos of the international situation, and that it can reinvigorate the world's sluggish economy," said Li Baodong, Chinese vice FM.

The world's major economies are coordinating their policies to achieve global economic stablity and sustainable growth -- and responding to global challenges, together.

"I highly appreciate the initiaive of China to address these challenges under the theme....interconnected development," said Hye Min Lee, ambassador for Int'l Economic Affairs Republic of Korea.

Experts say its not only about ensuring that the world economy recovers, but it is also about seizing the opportunities presented by new technologies to usher in a new kind of global economic growth.

"Structural reform is very important. We unite the G20 think tank representative and push the G20 members to think stronger," said Wang Wen, executive dean of RDCY.

The T20 summit is an important platform for global think tanks to contribute their wisdom and thoughts to G20 leaders. There is a growing demand for new ideas -- to promote world economic growth and to strengthen global governance.

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