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G20 summit continues with focus on key global issues (2)

(Xinhua)

08:28, June 20, 2012

"We should, in a spirit of unity and win-win cooperation, seriously study and jointly explore ways to address the systemic risks in the world economy, and strengthen the hard-won momentum of economic recovery," said the president.

Referring to the euro-zone crisis, the Chinese leader said: "We should continue to support in a constructive and cooperative way the efforts of some European countries to resolve the debt issue and help to bring their economies back on the track of steady growth as soon as possible."

The G20 was created in December 1999 in response to the financial crises affecting the emerging countries in the late 1990s.

Confronted with a global financial crisis, heads of state and government of G20 members met for the first time in Washington in November 2008 to work out an action plan to prevent the financial system and the global economy from collapsing.

Since then, leaders of the G20 members met regularly: in London in April 2009, Pittsburgh in September 2009, Toronto in June 2010, Seoul in November 2010, and Cannes in November 2011.

The G20, which accounts for 90 percent of global output and two thirds of the world's population, has become the premier forum for economic and financial cooperation.

G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States and the European Union.

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Email|Print|Comments(Editor:姚春、马茜)

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