Interpreting the eight issues of the G20 summit

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Interpreting the eight issues of the G20 summit

(People's Daily Online) 08:41, August 28, 2013

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As is appropriate in the global economic context, the presiding host Russia has determined that growth and employment will be the themes of the upcoming G20 summit this year, and set eight priority issues: a strong, sustainable and balanced growth framework; employment; reform of the international financial structure; reinforcement of financial regulation; energy sustainability; development; promotion of multilateral trade; anti-corruption. On the issues of growth framework and reform of the international financial structure, two additional special issues have also been introduced: investment financing, and the sustainability of government debt.

In addition to regular work, this year the summit will focus on policy evaluation - in particular the discussion about quantitative method design of fiscal policy, setting policies for long-term financial goals, spillover effects, and rebalancing issues. The growth framework group will this year introduce for the first time the accountability assessment program and provide accountability evaluation results at the summit.

On reform of the international financial structure, the implementation of International Monetary Fund (IMF) quota reform basically embodies the fairness and impartiality of the international organizations, a fact has been recognized by the G20 countries.

Employment issues will mainly be discussed by the employment working group, the International Labor Organization, the Economic Cooperation and Development (OECD) and others under the G20 framework.

On energy sustainability - relevant to its own natural advantages - Russia wants the G20 to increase focus on energy issues, and has organized a number of discussions and meetings.

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