Zhang Yuyan, director of the Institute of World Economics and Politics, CASS. (Photo provided to China Daily)
China, which will play host to the G20 Summit scheduled for Sept 4-5 in Hangzhou, has worked hard to prepare for the event, and along with other concerned parties, enable the G20 to promote global economic growth, improve financial governance worldwide, advance international trade and investment, and implement the 2030 Agenda for Sustainable Development.
Think tanks and academia from the G20 member countries and others make an important contribution to the G20 dialogue via the T20, and one of the last major events in the run-up to the G20 Summit is the T20 Summit in Beijing on Friday and Saturday.
Its mission is to provide support for global economic development and improved international governance via academic exchanges and policy discussions.
This year's T20 Summit will hold a wide range of discussions around the theme of "building new global relations－new dynamics, new vitality and new prospects", which dovetails perfectly with that of the upcoming 2016 G20 Summit－"innovative, invigorated, interconnected and inclusive".
As the world economic recovery is still in a low gear and facing a variety of risks, the International Monetary Fund has recently cut its global economic growth forecasts to 3.1 percent for 2016 and 3.4 percent in 2017.
One of the efforts to address the issue, the Beijing T20 Summit in cooperation with the Ministry of Science and Technology has also added a new forum on innovation to seek new growth spots in the world economy.
The disharmony between the complex situations worldwide and the current global systems of governance and capacity has contributed to the sluggish world economy that also correlates with its anemic growth.
