(September 5, 2016)

Ladies and gentlemen,

Friends from the press,

Good afternoon. The 11th G20 Summit has just concluded. We leaders of G20 members, some guest countries, and international organizations have had extensive discussions on key agenda items centered on the theme of “Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy.” We have had an in-depth exchange of views on strengthening policy coordination, on breaking a new path for growth, on more effective and efficient global economic and financial governance, on robust international trade and investment, and on inclusive and interconnected development. We have explored other issues affecting the world economy and plans for world economic growth and cooperation, and reached a broad consensus.

We have adopted the G20 Leaders' Communique of Hangzhou Summit. It sets out the direction, goals and steps for G20 cooperation, and embodies the Hangzhou Consensus for long-term, open, innovative and inclusive development with multi-pronged solutions.

The Hangzhou Summit coincides with a crucial juncture for world economic growth and the transformation of the G20, at a time when the world economic recovery remains weak, the impact of regional and international flashpoints and global challenges on the economy should not be ignored, and risks of all kinds and uncertainties remain prominent. Therefore, the Hangzhou Summit has attracted widespread attention from the international community and invited high expectations from all sides. Through the combined efforts of members, guest countries and international organizations, the Summit has yielded fruitful results and achieved its expected goals. Now I will brief you on the outcomes.

First, we are determined to chart the course for the world economy. We share the view that it is crucial to maintain peace and stability in the face of the risks and challenges confronting the current world economy. The G20 should work in a spirit of partnership, and further strengthen macro-policy coordination to implement the Hangzhou Action Plan, to leverage a host of effective policy tools, fiscal, monetary and structural, to sharpen vigilance and act as a buffer against short-term risks,to unleash medium- to long-term potential, to ensure sufficient aggregate demand, and to improve the quality of supply. We have the confidence that together we can get the world economy back onto the track of strong, sustainable, balanced and inclusive growth.

Second, we are determined to break a new path for growth, and to instill a new dynamism into the world economy. It has been proved that fiscal and monetary policies alone cannot help us out — rather we should innovate to drive the world economic engine and open up horizons for a new round of growth and prosperity. We have unanimously adopted the G20 Blueprint on Innovative Growth. We have agreed that we will encourage multiple levels of innovation in a wide range of domains, including development concepts, institutional architecture and business models, with science and technology at the core. We also believe that the fruits of innovation should be shared. We have decided to forge ahead with structural reform, identified the priority areas, and formulated guiding principles and a set of indicators to dispose of the chronic ills hindering economic growth. We plan to drive the development of advanced and high-end manufacturing as the vanguard of the fourth industrial revolution. We aim to use the digital economy to extend internet technology into all economic and social sectors and create an era in which everything is connected. The G20 Blueprint provides us with the consensus, action plan and overall framework to break a new path for global growth.

Third, we are determined to improve global economic and financial governance to enhance the resilience of the world economy. The improvement in global economic and financial governance is a banner of the G20 and marks new progress achieved this year. In addition to implementing the 2010 reform plan of the IMF, we have agreed to proceed with reform of quotas and voting power of international financial institutions. We expect the IMF to work for the completion of another round of quota reform, and we expect the World Bank to carry out a shareholding review based on the agreed roadmap and timeframe, with the objective of achieving equitable voting power over time, and increasing the representation and voice of emerging markets and developing countries. We have together looked at broadening the use of SDR. The World Bank takes the lead in issuing SDR-denominated bonds in China. The international financial and monetary system is improving. We are determined to strengthen the implementation of financial reform measures, and launch joint test run involving global and regional financial safety nets to address risks. This will reinforce our efforts to fight the financial crisis.

We will enhance international tax cooperation, increase efforts to crack down on tax evasion, and support developing countries in building their robust tax systems, in order to promote global investment and growth. China will build an international tax policy research center to make its own contribution.

We have formulated an action plan on energy access and renewable energy in the Asia-Pacific region, and plan to initiate energy efficiency programs to improve the efficiency of global energy governance.

We have made breakthroughs in cooperating to fight corruption this year by formulating the G20 High-Level Principles on Cooperation on Persons Sought for Corruption and Asset Recovery, by establishing a research center to study issues related to persons sought for corruption and asset recovery in China, and by drawing up the G20 Anti-Corruption Action Plans 2017-2018. These contribute to an international anti-corruption campaign with unified principles, institutions, and actions that will deprive all corrupt elements of any safe haven in G20 countries and beyond.

Fourth, we are determined to revitalize international trade and investment as key engines of growth, and build an open world economy. We agree to fully leverage the role of the G20 trade and investment mechanism. We have worked out the G20 Strategy for Global Trade Growth to promote the inclusive and coordinated development of global value chains, provide continued support for the multilateral trading system, and reiterate the commitment to oppose protectionism, in a joint endeavor to unlock the potential of global trade cooperation and reverse the decline of global trade growth. We have formulated the G20 Guiding Principles for Global Investment Policymaking, the first global framework of multilateral rules governing international investment, which fill a gap in this field and serve as a milestone for the G20 on its path towards establishing a long-term governance mechanism in place of occasional crisis management. Through these common efforts, we aim to break barriers and facilitate the free flow of resources, factors, goods and services across the globe, and to better promote global economic growth and economic globalization.

Fifth, we are determined to promote inclusive and interconnected development, so that G20 cooperation will deliver benefits to the whole world. As the largest developing country, China has hosted the Hangzhou Summit featuring a distinctive development perspective and witnessing fruitful results.

This year we have realized three “firsts” in the area of development: For the first time, we have given priority to development in the global macro-policy framework; for the first time, we have devised an action plan to implement the 2030 Agenda for Sustainable Development adopted by the UN; and for the first time we have agreed in unison to support industrialization in Africa and in the LDCs. These are historic and groundbreaking achievements for the G20.

We agree to take the lead in implementing the Paris Agreement on climate change to encourage its early entry into effect. To help reduce inequality and imbalance in global development, we have devised an entrepreneurship action plan, proposed to establish a global infrastructure connectivity alliance, and achieved practical outcomes in such areas as food security and inclusive business.

We hope to convey this message to the international community: The G20 serves not only for its members but also the whole world at large. Our goal is to ensure that growth and development benefits are shared by all countries and peoples in a fair and balanced manner.

We have also come to a deeper understanding of the importance of making full use of the role of the G20 as the premier forum for international economic cooperation. We deem it necessary to transform the G20 from a crisis response mechanism to a long-term governance mechanism, and to expand its focus from short-term policy response to a combination of short-, medium-and long-term policymaking, and from demand side management to supply side reform. We all believe that the development of the G20 bears on the immediate interests of all members and the future of the world economy. Only if the G20 stays responsive to the times and change will it retain its vigor and vitality. We resolve to support the continued focus by the G20 on the most prominent, pivotal and pressing challenges facing the world economy, to enhance policy coordination, to improve institutions, and to fully implement the outcomes, thus leading the world in promoting strong, sustainable, balanced and inclusive economic growth.

To conclude, I want to point out that it is with the support and assistance from the G20 members, guest countries and international organizations in the past year that we have held more than 70 meetings and generated 29 outcome proposals. These fruitful results are attributed to the joint efforts of all parties of G20. On behalf of the host country, I want to express my sincere gratitude to G20 members, guest countries and international organizations for the important contribution you have made to the great success of the Hangzhou Summit. I would also like to thank B20, T20, L20, W20, Y20, C20 for the wisdom you have contributed to the success of the Hangzhou Summit and the development of the G20. After the Hangzhou Summit, we need to continue our cooperation to materialize its outcomes.

I would also like to take this opportunity to express my thanks to the media foryour support and company in the past year, foryour recording of the most splendid moments during this Summit, for presenting the stories of the Summit and the beauty of West Lake, and for sharing the G20 leaders' commitments with all your peoples. Your hard work is etched in our memory of G20 Hangzhou Summit. In conclusion, I hope your trip to Zhejiang and Hangzhou Summit has left you fond memories. “Hangzhou is a most memorable place, ”[1] and I look forward to “your return in the near future.”[2]

Thank you.

注释：

[1]See Memory of Jiangnan by Bai Juyi.Bai Juyi(772-846)was a famous Tang Dynasty poet, and once served as the mayor of Hangzhou.

[2]Ibid.