B20 2016 press conference held in Beijing

Updated: 2016-06-28

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The B20 2016 Host Committee held its first press conference in Beijing on June 16.

The B20 Summit is scheduled to open in Hangzhou, Zhejiang province from September 3 to 4. Chinese President Xi Jinping and leaders from G20 members will attend the meeting and discuss measures to boost the world economy, said Yin Zonghua, Deputy Director of the B20 2016 Host Committee and Vice Chairman of the China Council for the Promotion of International Trade (CCPIT).

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The B20 is a major supporting facility for the G20, as well as an important platform for the world business community to participate in global economic governance and fuel the growth of the world economy. Through taskforce meetings and summits, the B20 collects opinions of world business leaders and develops consensus; it then provides policy recommendations to the G20 Summit, thus contributing to the G20 leaders’ decisions. Since its launch in 2010, the B20 has contributed strong guidance to help the world economy realize robust, sustainable and balanced growth.

The CCPIT has led the preparation work for the upcoming B20 Summit, which is expected to be the largest ever, with nearly 1,000 representatives from the world business community participating. Since the initial B20 China meeting on January 26, the B20 2016 Host Committee has organized intensive negotiations and consultations among world business communities, generating wide agreement on the B20 policy paper.

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Preparations for the B20 Hangzhou Summit are in full swing, Yin said. He expressed his welcome to representatives from enterprises, business associations, international organizations and institutions, and said that the CCPIT will work with various parties to host the most impressive B20 Summit in the event’s history.

According to Yin, this year’s B20 has set six topics– financing growth, trade and investment, infrastructure, SME development, employment and anti-corruption – corresponding to the themes of the G20 summit. Relevant taskforces and special forums have brought together more than 500 world business leaders, while B20 China has gathered some 3,900 business representatives from across the world into more than 30 working meetings and symposiums.

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A draft B20 policy paper has also taken shape, which features 20 major policy recommendations, including developing a G20 smart innovation program and encouraging the development of green finance. The policy proposals are closely linked to the topics of the G20 Summit, and have gained extensive support from world business leaders because they address common concerns of the commercial community about the world economy.

The B20 policy paper will be put forward to the 2016 G20 Summit, Yin said. The B20 Host Committee will take advantage of channels such as the G20 official working platform and the St. Petersburg International Economic Forum to publicize the paper among governments, business associations, enterprises and international organizations, in a bid to have as many recommendations as possible included into the G20 Summit communiqué.

The international business community has fully endorsed the work of B20 2016.

Phil O’Reilly, Chairman of the Business and Industry Advisory Committee to the OECD, said this year’s B20 is progressing in an orderly manner and has achieved an initial success as China has played an outstanding leading role.

Marion Jansen, Chief Economist of the International Trade Centre, said this year’s B20 has had unprecedented communication and interaction with the G20, making it a really effective communication channel between business and the governments of G20 countries.

The press conference was hosted by CCPIT Spokesman Feng Yaoxiang. Liu Zhenhua and Sun Xiao, from the Secretariat of the B20 2016 Hosting Committee, also attended the conference and took questions.

The meeting attracted some 50 journalists from more than 40 media organizations, including People’s Daily, Xinhua News Agency, Guangming Daily, Economic Daily, China Daily, China Central Television, China Radio International, China New Service, Beijing Television and Zhejiang Daily.