China to advance global growth, financial stability at G20 summit in 2016

ST. PETERSBURG, June 19-- Chinese Vice Premier Zhang Gaoli said here Friday that China will work to enable the G20 summit to play an important role in promoting global economic growth and maintaining stability of the international financial market.

Zhang made the remarks when addressing the annual meeting of the St. Petersburg International Economic Forum Friday afternoon.

Among the attendees was Russian President Vladimir Putin, plus thousands of business persons and government officials from the world over.

Zhang said in his speech at the meeting that China will host the G20 summit in 2016. He said effort should be made to improve the global economic governance system on the basis of fairness, justice, inclusiveness and order.

He said China supports the United Nations and relevant organizations to play a basic role in global governance and advocate a bigger representation and say for emerging markets and developing countries.

While noting that a global recovery is still in great uncertainty, Zhang said all economies should stick to win-win cooperation by stepping up policy coordination, opposing protectionism and working to develop a community of shared destiny and interests.

He welcomes all countries to participate in the "Belt and Road" initiatives China put forward.

The "Belt and Road" refers to the Silk Road Economic Belt and the 21st-Century Maritime Silk Road initiative proposed by Chinese President Xi Jinping in 2013. The initiative brings together countries in Asia, Europe and even Africa via overland and maritime networks.

Zhang also called for the economies to develop new driving forces for sustainable growth of the global economy through restructuring, innovation, technological revolution and industry transformation.