Twenty countries: China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Saudi Arabia, South Africa, Turkey, Britain, the United States, Russia and the European Union.

These countries account for about 85% of the world's gross national product, but their population accounts for nearly two-thirds of the world's total population. The proposal to set up the G20 was put forward by the finance ministers of eight western industrialized countries, including the United States1in June 1999 in Cologne, Germany, with the aim of allowing the countries concerned to have an informal dialogue on international economic and monetary policies, so as to facilitate the stability of the international financial and monetary system.

The G-20 is an informal dialogue mechanism within the framework of the Bretton Woods system, aiming at promoting the reform of the international financial system, laying a broad foundation for discussion and consultation on substantive issues, seeking cooperation and promoting the stability and sustained growth of the world economy.

The G20 has no permanent secretariat and staff. Therefore, the presidency of that year set up a temporary secretariat to coordinate the work of the G-20 and organize meetings.

The meeting mainly discussed the formal establishment of G20 meeting mechanism and how to avoid the outbreak of economic crisis. Participants will not only discuss how countries can prevent the economic crisis, but also exchange views on how the international community can play a role in preventing the economic crisis. ?

Extended data:

The establishment of the G-20 was first proposed by the finance ministers of seven industrialized countries, including the United States, in Cologne, Germany, in June, 1999, with the aim of preventing the recurrence of similar Asian financial turmoil and allowing relevant countries to hold informal dialogues on international economic and monetary policies, which is conducive to the stability of the international financial and monetary system.

At that time, only finance ministers and central bank governors attended the G20 meeting. Since the global financial crisis triggered by the United States in 2008, the financial system has become the focus of global attention. The G20 summit has expanded the voice of countries and replaced the previous G8 summit or G20 finance ministers' meeting.

In accordance with established practice, the International Monetary Fund and the World Bank participate in the meetings of the organization as non-voting representatives. G20 accounts for about 90% of global GDP and has a population of about 4 billion.

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