（September 5, 2016）

Dear colleagues,

Yesterday at the West Lake, we were able to appreciate the night scenery and enjoy a wonderful performance. I hope you had an enjoyable evening.

Yesterday we reached consensus on strengthening policy coordination and creating an innovative growth model. I hope we will continue these positive and constructive discussions.

Now we move to the second session to discuss more effective and efficient global economic and financial governance.

A fair, equitable, inclusive, and orderly global economic and financial governance system is the institutional guarantee for world economic growth. The international financial crisis has exposed problems in global economic and financial governance. Over the past few years the G20 has played an important role in reforming the international financial system.

This year China has proposed that the G20 discuss more effective and efficient global economic and financial governance. The objectives are to strengthen institutions, maintain the momentum of reform, and provide reliable support for the strong growth of the world economy.

This year we have revitalized the International Financial Architecture Working Group to discuss in depth a number of issues, including the reforms on the quotas and voting power of international financial institutions, cross-border capital flows, sovereign debt restructuring, and a bigger role for special drawing right (SDR). Our aim is to make the international financial architecture more stable and resilient.

In order to leverage the resources and strengths of multilateral development institutions in the field of infrastructure investment, we will discuss ways to enhance their operational efficiency, improve their modes of operation, and fully mobilize their resources to serve global economic growth and development.

To enhance the resilience of the world economy, we will focus on such issues as promoting financial sector reform, improving global financial regulation and infrastructure, and strengthening the global financial safety net.

Green finance is a new topic that China has proposed in its role as the G20 presidency to deal with environmental challenges and promote green investment, and thus transform the global economy into a green one. To this end, we have set up the Green Finance Study Group to promote cooperation among all parties in micro-finance, inclusive finance, and other fields.

We have also reached a series of preliminary agreements that will help improve the international tax system and strengthen international tax cooperation.

I hope that through today's discussions we can achieve positive results in various fields, results that will bring better balance to the global economic and financial governance structure and make mechanisms more reliable and actions more effective.

Effective energy governance is an important guarantor of world economic growth. This year China has proposed that the G20 focus on energy access, energy efficiency, renewable energy, clean energy and other issues in the Asian region, and implement global energy cooperation principles in the hope of strengthening the governance system of global energy.

Corruption is a menace to the healthy development of the world economy. China has a clear-cut stance on corruption. This year we have urged the G20 Anti-Corruption Working Group to work actively, starting from anti-corruption principles, mechanisms, and actions,and the group has achieved good results. We hope that at today's session, we will strengthen consensus on the fight against corruption and together create a clean environment for development.