G20 summit will focus on innovation, development: China

The upcoming G20 summit in 2016 will focus on fostering innovation and development, said China’s Foreign Minister Wang Yi as the country is set to host the meet this year. The summit will be hosted in the eastern Chinese city of Hangzhou on September 4 and 5. “China will stress on innovation, reform and development at the upcoming G20 summit to revive the global economic growth,” Mr Wang Yi said. China has expressed intent to inject new momentum to the world economy through reforms and create new prospects through development. China has said that it is trying to discover new force of growth through innovation. Innovative growth will be a key topic in the G20 summit agenda for the first time. China seeks to take opportunities of the new industrial revolution and digital economy to develop a blueprint for the growth of the world economy, which will be led by innovation. China has prioritised development issues in macro-policy coordination. It has encouraged G20 members to show leadership in implementing the United Nations’ 2030 Agenda for Sustainable Development. The aim of the summit is to promote an inclusive and interconnected development of the world. China took over the presidency of G0 in December 2015. India’s Prime Minister Narendra Modi is also expected to visit the summit in September 2016.