Xi outlined some of the preparations China will make for the upcoming summit, including innovation in growth patterns and improvement of international trade and investment. (Photo : http://cdn3.gbtimes.com/)
President Xi Jinping announced on Monday, Nov. 16, that the Chinese city of Hangzhou will play host to the 2016 Group of Twenty (G20) summit, according to a report by China Daily.
Its theme, "Building an innovative, invigorated, interconnected and inclusive world economy," was also revealed by Xi during his speech in the recently concluded 10th G20 summit in Antalya, Turkey.
The theme, according to Xi, was chosen in light of the conditions that the world economy has just recovered from.
As China will take over the G20 presidency on Dec. 1, 2015, the city of Hangzhou was chosen as the next host city. Hangzhou, the capital and largest city of Zhejiang Province, is famous for the scenic West Lake.
The presidency is rotated annually among member states. A "troika" is chosen to ensure continuity and is usually composed of the immediate past, current, and next host countries. Turkey, Australia, and China are the members of the 2015 troika.
Xi outlined some of the preparations China will make for the upcoming summit, including innovation in growth patterns and improvement of international trade and investment.
"We need to increase the representation and voice of the emerging market economies and developing countries (in global governance), so as to enhance the capabilities of the world economy to resist risks," said Xi.
"The trends and policies of major economies are becoming increasingly divergent. We are in dire need of new sources of growth to push for a new round of prosperity for the world economy," he added.
The 2016 Group of Twenty (G20) summit is scheduled on Sept. 4-5, 2016.
