The G20 finance ministers and central bank governors held meeting in Shanghai to discuss ways to boost global economic growth and minimize risks. Saturday marks the last day of the 2-day meeting.
SHANGHAI, Feb. 27, 2016 (Xinhua) -- Chinese Finance Minister Lou Jiwei(C, rear) answers questions at a press conference after G20 Finance Ministers and Central Bank Governors Meeting in Shanghai, east China, Feb. 27, 2016. The two-day G20 Finance Ministers and Central Bank Governors Meeting closed in Shanghai Saturday. (Xinhua/Li Xin)
The world's top economies have reached agreement to use all policy tools, as well as structural reforms, to lift sluggish global growth.
Hand in hand to face the global challenges. G20 members agreed to use all methods, including monetary and fiscal stimulus, as well as structural reforms to foster economic confidence and strengthen the recovery.
The meeting also suggest fiscal policy will be used "flexibly"to boost growth as well as secure stable price, under the current uneven global recovery. Meanwhile structural reform has also become a major focus.
"After China took over the G20 presidency, we have put structural reform as the most important topic in the framework of economic growth. A coeffient of structural reform will finally be established to meassure the reform process of major member countries,"
"The core aim is to boost the deepening of structural reform among major economies and the whole world, in a bid to truly realise a sustainable and stable mid-and-long term growth in global economy," said Zhou Qiangwu, Deputy Dir. Gen. of Asia-Pacific Finance & Develpment Center at Ministry of Finance.
This is the first time for China being the host of meeting after taking over this year's G20 presidency.
Premier Li Keqiang earlier said he is confident of China's capability to handle the complex situation at home and abroad, and there was no basis for a continued depreciation of the yuan, despite a slowing down economy.
