President Xi Jinping calls leaders to action in the G20 Summit. (Photo : Getty Images)
During the G20 Summit where global leaders in finance and commerce came together, Chinese President Xi Jinping urged all of the participants to "real action" and to stop "empty talk."
He said this during the opening remarks of the summit where he said that the leaders should focus on sustainable development, green finance, energy efficiency and anti-corruption, "and we should implement each of them seriously."
He also encouraged the member countries should collaborate in developing solutions and to avoid discrimination by looking at all angles "squarely."
The Chinese leader also said, "Against risks and challenges facing the world economy, the international community has high expectations of the G20 in the Hangzhou summit."
The global leaders agreed to the remarks by President Xi. Angela Merkel, Prime Minister of Germany, said that she welcomed China's move to reform.
Chen Wenling, chief economist at the China Center for International Economic Exchanges, said, "The G20 is becoming more systematic and is changing from a short-term arrangement to handle crises to a long-term dialogue and action mechanism. To make it more effective, the G20 should establish a secretariat."
According to an expert, China has been a driving force in bringing a new level of exchange of ideas in the G20.
"The G20 used to be driven by crises, and now it's driven by ideas. China has provided a global consensus at the Hangzhou summit that will drive global joint action," said Wang Wen, acting director of Renmin University of China's Chongyang Institute for Financial Studies.
Other global leaders echoed the sentiment of President Xi's call to action.
Japanese Deputy Chief Cabinet Secretary Koichi Hagiuda said, "Commitment will be made to utilizing all three policy tools of monetary and fiscal policies and structural reforms to achieve solid, sustainable, balanced and inclusive growth."
