Minister of Finance Jin Renqing said yesterday that he expected that the upcoming Group of 20 (G20) ministerial meeting could produce substantial results.
Finance ministers and central bankers of G20 countries will gather at Xianghe, a small town in north China's Hebei Province near Beijing, for a meeting on from October 15 to 16.
President Hu Jintao will address the opening ceremony in Beijing, and the meeting will be co-chaired by Jin and Zhou Xiaochuan, governor of the People's Bank of China, the country's central bank.
It is the first time for China to host the meeting, a spokesperson said, adding that its theme is to enhance global cooperation and ensure balanced and orderly development.
They are expected to discuss IMF and World Bank reforms, the current global economic situation, development assistance and financing, aging populations and migration.
In addition to a regular joint communiqué, China plans to call on other members to pass another two documents, one on the reform of Bretton Woods institutions, the other on issues of international development, said Jin.
Founded in 1999, the G20 includes seven industrialized countries, as well as Argentina, Australia, Brazil, China, the EU, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey.
They account for 90 percent of the world's GDP, 80 percent of global trade and two thirds of the world's population.
(Xinhua News Agency October 14, 2005)
