G20, also known as the Group of 20, consists of the United States, the United Kingdom, Japan, France, Germany, Canada, Italy, Russia, Australia, China, Brazil, Argentina, Mexico, South Korea, Indonesia, India, Saudi Arabia, South Africa, ***19

countries and the European Union.

G20 members have a wide coverage and strong representation. Their composition takes into account both developed and developing countries and the balance of interests in different regions. The population accounts for 2/3 of the world, the land area accounts for 55% of the world, and the GDP accounts for 86% of the world.

, accounting for 75% of global trade volume.

From November 15th to 16th, 2022, the 17th Summit was held in Bali, Indonesia. The theme of the Summit was Common Recovery and Strong Recovery.

Promoting economic growth has always been the core topic of the summit. From the first summit in 2008, which proposed supporting economic growth, to the formal launch of the strong, sustainable and balanced growth framework at the Pittsburgh Summit in 2009, all previous summits have been committed to coordinating efforts to achieve strong, sustainable

, balanced world economic growth.

Development history: On November 15, 2008, the G20 held its first summit in Washington, USA.

The summit reached important consensus on how countries should cooperate to respond to the international financial crisis and maintain world economic stability, and adopted a 47-point reform action plan in the financial sector.

On April 2, 2009, the G20 held its second summit in London, England.

It sent a strong signal of unity and cooperation to the international community to respond to the international financial crisis and boosted market confidence.

On September 24, 2009, the G20 held its third summit in Pittsburgh, the United States.

The summit established the status of the G20 as the main forum for international economic cooperation, determined the quantitative reform goals of the two major financial institutions, the World Bank and the International Monetary Fund, launched the "Strong, Sustainable and Balanced Growth Framework" and mutual evaluation process, and discussed the two major financial institutions.

Important consensus was reached on the institutionalization of the G10 leaders’ summit.

On June 26, 2010, the G20 held its fourth summit in Toronto, Canada.

The summit played a positive role in promoting world economic recovery and properly responding to the European sovereign debt crisis. It required the completion of the International Monetary Fund quota reform before the Seoul Summit in November. It also set quantitative targets and timetables for developed countries to reduce deficits and public debt.