G20 to revitalize international trade, investment: Xi

HANGZHOU, Sept. 5 (Xinhua) -- The G20 members will support multilateral trading system, oppose protectionism, unlock global trade cooperation potential, and reverse the decline of trade growth, President Xi Jinping said here on Monday.

Speaking to journalists at the end of the 11th G20 summit, Xi said, with the determination to revitalize global trade and investment as key engines of growth, the G20 members have agreed to strengthen the construction of G20 trade and investment mechanism.

A G20 strategy for global trade growth was made to "promote the inclusive and coordinated development of global value chains, support the multilateral trading system, and reject protectionism, ... to unlock the potential of global trade cooperation, and reverse the decline of global trade growth," said the president.

G20 Guiding Principles for Global Investment Policymaking, which lays out the first global framework of multilateral rules governing international investment, will have great significance in promoting the transition of G20 from a crisis response to a long-term governance mechanism, he said. 

The 11th summit of the Group of 20 (G20) major economies concluded on Monday, reaching consensus on a wide range of important topics.

A communique was adopted, clarifying the development direction, targets, measures of the G20 cooperation, while Hangzhou Consensus was reached on facilitating world economic growth through long-term, comprehensive, open, innovative and inclusive measures, said Xi.

"We are determined to break a new path for growth to inject new vitality into the world economy," Xi said.