Minister of Finance Jin Renqing said yesterday that he expected
that the upcoming Group of 20 (G20) ministerial meeting could
produce substantial results.
Finance ministers and central bankers of G20 countries will
gather at Xianghe, a small town in north China's Hebei
Province near Beijing, for a meeting on from October 15 to
16.
President Hu Jintao
will address the opening ceremony in Beijing, and the meeting will
be co-chaired by Jin and Zhou Xiaochuan, governor of the People's Bank of
China, the country's central bank.
It is the first time for China to host the meeting, a
spokesperson said, adding that its theme is to enhance global
cooperation and ensure balanced and orderly development.
They are expected to discuss IMF and World Bank reforms, the
current global economic situation, development assistance and
financing, aging populations and migration.
In addition to a regular joint communiqué, China plans to call
on other members to pass another two documents, one on the reform
of Bretton Woods institutions, the other on issues of international
development, said Jin.
Founded in 1999, the G20 includes seven industrialized
countries, as well as Argentina, Australia, Brazil, China, the EU,
India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South
Korea and Turkey.
They account for 90 percent of the world's GDP, 80 percent of
global trade and two thirds of the world's population.
(Xinhua News Agency October 14, 2005)