G20-Brisbane.jpg (Photo : Reuters)
Despite its current economic situation, China will be playing a "prominent" role in attaining the Group of 20 (G20) leaders' plans, especially in strengthening GDP and building an international infrastructure hub.
During the two-day G20 summit, leaders agreed upon several goals in which China will play a key part. In a Global Times report, Director Xu Hongcai of the Department of Information under the China Center for International Economic Exchanges said that even with China's economic slowdown, the country will still be vital for G20 because of many aspects such as large domestic consumption.
For 2014, China has 27.8 percent of the total GDP growth in the world. Chinese finance vice minister Zhu Guangyao said that 15 percent of the 1,000 initiatives from G20 members were given by China to help lift a 2-percent growth to the countries' economies.
The said target was mentioned in a communiqué to end the Brisbane G20 summit. Leaders who attended the meeting came up with a goal planned early this year to increase G20's GDP to more than 2 percent in the next four years.
If the G20 endorsement will be successful, a 2.1-percent lift on the GDP is expected in addition to the $2-trillion bonus to global economy.
During the G20 summit, Chinese President Xi Jinping made a promise that China will preserve its economic thrust and contribute further to world economy.
Xi said that G20 members will prioritize easing economic risks, managing macroeconomic policy, improving livelihood, and giving out more jobs to people amid the slow recovery of the global economy.
Leaders of the developed countries also set a Global Infrastructure Initiative, a multi-year plan that would put up quality public and private venture, to facilitate in reaching the growth target.
