Xi is confident that the Chinese economy will be able to contribute its fair share of the load by creating development opportunities to aid other countries. (Photo : Xinhua)
Chinese President Xi Jinping addressed his fellow world leaders at a speech during the Group of 20 (G20) summit in Antalya, Turkey, on Sunday, Nov. 16. Xi encouraged his contemporaries for further coordination in the development of innovative, macroeconomic policies aimed to boost global growth.
According to Xi, the G20 leaders must come together to maintain short-term economic growth while, at the same time, looking for new ways to propel global growth in the long-term.
The 2015 G20 summit, the 10th of its kind since its establishment in 2008, is shadowed by the slow and uneven recovery of the world economy.
"The current crisis is far more complex than any of the previous crises, and it cannot be fixed overnight," said Xi, emphasizing a multi-pronged approach to solve the crisis.
The Chinese president then outlined four proposals that will help augment the global economic situation: strengthen and coordinate on macroeconomic policies; establish an open world economy to help boost international trade and investment; promote innovation and reform to maximize growth potential; and implement the 2030 Agenda for Sustainable Development for inclusive and equitable development.
Xi is confident that the Chinese economy will be able to contribute its fair share of the load by creating development opportunities to aid other countries. China is also expected to maintain a medium-high economic growth rate, growing to about 7 percent this year.
Aside from the 13th Five-Year Plan (2016-2020), China has several other policies and projects that will help the world's second-largest economy continue its growth while powering the world economy.
The inclusion of the renminbi (RMB) or Chinese yuan in the Special Drawing Rights (SDR) basket can also help improve the international monetary system, said Xi in his speech, addressing the staff from the International Monetary Fund.
Aside from the global economy, the G20 summit will also discuss other key areas such as global economic governance and climate change.
