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B20 meeting to discuss ways to boost global economy


09-02-2016 01:28 BJT

Full coverage: G20 Hangzhou Summit

The heads of big businesses from the G20 economies will also gather in Hangzhou. They will be hearing from each other and politicians about effective ways to boost global growth.

The global economy’s slowdown has affected almost every country. Seeking ways to revive growth, China’s major agency for promoting foreign investment and trade put together a meeting of businesses leaders from the Group of 20 major economies.

The organizer of the so-called B20 meeting says policymakers have to clear roadblocks for global trade.

“We recommend that governments set up transparent guidelines for trade policies, allow agencies to assess the process, and help with dispute settlement,” said Yu Ping with B20 China Sherpa.

Last August, the China council for promotion of international trade finished a report for the leaders’ summit. Its president, Jiang Zengwei, says the report will shed light on issues concerning economic governance.

“It’s not only concerned with growth, but also the well-being of people around the world. I am confident that the report will be welcomed by all members and become the reference for policy-making,” said Jiang.

The business circle's policy recommendation has 20 items, such as building high-quality infrastructure, funding small businesses, and developing a digital economy. So what is the business community expecting from the leaders’ summit?

“We hope the governments would reach consensus, and provide a good environment for the flow of capital and goods,” Jiang said.

Chinese President Xi Jinping will address the meeting, which a number of political leaders will attend.

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