As leaders of the world's major economies are to gather in Hangzhou, all eyes are on China to see what the economic powerhouse can offer in global governance to revive the world economy.[Special Coverage]
On Sept. 4-5, President Xi Jinping will host the Group of 20 (G20) summit, which bears the theme of "Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy."
The G20 represents over 85 percent of the world's economy and two thirds of global population. China took over the G20 presidency of the group in December 2015.
The most urgent task facing the G20 summit is to achieve a steady recovery in the world economy and guard against economic crises caused by accumulated financial risks.
Yet equally important are efforts to reform global economic governance.
Eight years ago when the first G20 summit was held in Washington, global governance was an unfamiliar term to most Chinese.
The term became part of Chinese political parlance in the course of addressing the 2008 global financial crisis and has gained prominence in the past years.
Attending a BRICS summit in South Africa in March 2013, about two weeks after taking office as the top Chinese leader, President Xi Jinping spoke of the need for emerging economies to take part in global governance, to uphold international fairness and justice and safeguard world peace and stability.
"No matter how the reform of the global governance system may unfold, we should always take an active and constructive part in the process," Xi said.
Emphasis on global governance is now a hallmark of China's diplomacy.
In St. Petersburg in September 2013, Xi called on major countries to adopt responsible macroeconomic policies and improve global economic governance to maintain and promote the openness of the world economy at the eighth G20 summit.
In Brisbane in 2014, he urged G20 members to improve global economic governance and strive for a fair, just, inclusive and orderly international financial system.
