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Zhu Guangyao: China to work with G20 over global economy

CCTV.com

11-15-2015 12:52 BJT

Full coverage: President Xi Attends G20, APEC Summits

Chinese vice finance minister, Zhu Guangyao says President Xi Jinping will explain China's views on the world economy during the G20 summit. He'll also introduce China's economic policy and the 13th five-year plan. Zhu  says President Xi will also give more details about China's preparation for next year's G20 summit in Hangzhou.

China will become the new G20's rotating presidency from December.

Zhu Guangyao said that the Chinese President is paying a lot of attention to the preparations.

Chinese vice finance minister, Zhu Guangyao says President Xi Jinping will explain China

Chinese vice finance minister, Zhu Guangyao says President Xi Jinping will explain China's views on the world economy during the G20 summit.

"According to President Xi's instructions, China will communicate closely with other members in preparation for the G20 summit. It will build a consensus in fields such as promoting global economic growth, maintaining the stability of international financial markets and advancing the reform of global economic governance structure," he said.

Zhu said the world economy is currently facing challenges from disputes over international currency policy, the falling price of bulk raw materials, and the influence of geopolitics. He added that emerging market economics are also facing downward pressure. China managed to maintain high economic growth under the circumstances, and contribute significantly to the global economy.

"China's GDP increase was 6.9 percent in the first three quarters of this year. Under the tough global economic circumstances, it is difficult for China to maintain this 6.9 percent in the process of promoting structural reform," Zhu said.

He stressed that China is confident it can fulfil its 2015 social development goals, and maintain its economic growth at around 7 percent.

Zhu also talked about the recent terror attacks in Paris. He said that apart from taking necessary security measures, the relevant countries need to focus on economic development, so as to eradicate the root of terrorism.   

"To keep the steady, sustainable and balanced growth of the world economy, so as to reach UN's goal to end extreme poverty globally by 2030, its is important economically and politically to eliminate the soil for terrorism," he said.


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