G20 Summit in Shanghai concludes with agreement for economic stimulus measures

CCTV News

G20 Summit in Shanghai concludes with agreement for economic stimulus measures

The Group of 20 Finance and Central Bank Governors meeting in Shanghai concluded with the world’s top economies agreement to stay on track with their stimulus measures to spur global economic growth.

Our reporter Ming Tian has more from Shanghai

Nations at G20 pledge to lift global growth

Nations at G20 pledge to lift global growth

G20 Summit in Shanghai concludes with agreement for economic stimulus measures


The Group of Twenty finance ministers and central bank governors had gathered in Shanghai to discuss the global economy and persistent market volatility over the span of two days.

After long meetings and break out discussions officials agreed to renew their focus on structural reforms to prevent further downside risks and spark activity.

“The meetings underlined that we will take all necessary policy tools, both individually and collectively, including monetary, fiscal, and structural reforms to lift market sentiment and revive growth, and keep the debt ratio at sustainable levels,” said Lou Jiwei the Chinese finance minister.

But Lou Jiwei pointed to anchor long-term expansion, structural reforms are needed. The measures will mean different things for different countries, but the goal is universal: to make growth sustainable.

Officials spent much of Saturday night talking about the global economic outlook. And they stressed that the recovery is not as bad as reflected by the markets. The expansion is there, just more moderate than previously expected.

They also agreed to keep consulting with each other and coordinate policy decisions.