Innovation, Finance, Trade and Development: Prospect and Action

The G20 Summit 2016 has ended, which focused on innovation, finance, trade and development—the four economic hotspots that still attracted people’s attention.

At this Summit, the heads of member states possessing 90% of global GDP and 80% of global trade volume jointly discussed the policies of global economic development for four economic hotspots, and talked about the governance programmes for continually sluggish world economy.

For the four big economic hotspots: how to turn the innovation as a “gold key”, how to establish a “new order” of finance conforming to the times, how to break the barrier to further drive global trade and how to let development implemented practically and realize development blueprints in predictable future, China not only offered the solutions but also will actively fulfill them.

Similarly, the Beijing CBD will reflect on innovation, finance, trade and development and put into practice from the globe to the state, the state to cities, and cities to the central business district (CBD).

Innovation

Innovation is a key to open the lock of the economic growth. This G20 adopted the G20 Blueprint on Innovative Growth, and this is also G20’s action to take for innovation for the first time. For China, it is crucial how to turn the key of innovation to seek the way fit for self-development.

Finance

G20 was born at the moment of financial crisis in Asia, and promoted in global financial crisis in 2008. So solving financial problems is one of G20’s missions. China’s financial governance experience is originated from the 30-year reform and opening practice. The Path of China will become an important guarantee for the global financial stability.

Trade

In the trade field, G20 is committed to driving the construction of trade investment cooperation mechanism, and jointly oppose trade protectionism, and consolidate the multilateral trading system. For the economic share or exclusion, China and US, as two powerful economies, have made different choices. China expects the service trade to drive transition and development of economy.

Development

In the development field, G20 will play a guiding role in implementation of the 2030 Agenda for Sustainable Development. This year, G20 works out the action plan for the implementation of the 2030 Agenda for Sustainable Development, and China’s development will be still recognized as a powerful engine to drive the world development.