G-20, also known as G-20, G-20 Summit, also known as G-20 Financial Summit, is an international economic cooperation forum, which was established in Berlin, Germany, 1999 12 16. It belongs to the informal dialogue mechanism within the framework of the Bretton Woods system, and consists of the former G8 and other 12 important economies.
The G20 Financial Summit aims to promote open and constructive discussions and research on substantive issues between industrialized developed countries and emerging market countries, so as to seek cooperation and promote international financial stability and sustained economic growth. In accordance with past practice, the International Monetary Fund and the World Bank attended the meetings of the organization as representatives without voting rights. 20 12 In June, at the G20 Summit held in Mexico, China announced its support and decided to participate in the capital increase of the International Monetary Fund, amounting to US$ 43 billion.
The G-20 was proposed by the finance ministers of the G-8 in Washington on September 25th, 1999. Its purpose is to prevent the recurrence of similar Asian financial turmoil, and to allow countries concerned to have informal dialogues on international economic and monetary policies, which is conducive to the stability of the international financial and monetary system. Since 2008, the G20 has been holding leaders' summits. With the maturity of the G-20 structure, in order to reflect the importance of newly industrialized countries, the leaders of G-20 member countries announced in 2009 that G-20 will replace G-8 and become the main forum for global economic cooperation. G20 operates in the form of informal ministerial meeting, without a permanent secretariat, and its chairman adopts rotation system. The finance ministers and central bank governors of the organization meet once a year. The annual ministerial meeting is usually associated with the meeting of finance ministers of the Group of Seven, which is usually held at the end of each year. The meeting is provided with secretarial services and support by the host country, some international institutions and external experts, and working groups can be set up as needed to consider some major issues and put forward countermeasures and suggestions. In order to ensure the close ties between the G20 and the Bretton Woods institutions, the Managing Director of the International Monetary Fund and the President of the World Bank, as well as the Chairman of the International Monetary and Financial Committee and the Chairman of the Development Committee, also participated in the activities of the forum as special guests. China is a founding member of G20, and successfully hosted the 7th G20 Finance Ministers and Central Bank Governors Meeting in 2005.
In response to the economic crisis from 2007 to 20 10, the G20 began to hold leaders' summits in 2008 to discuss countermeasures, and held two summits every year from 2009. Another purpose of the summit is to correct the situation that newly industrialized countries were not included in the conference and global economic management in the past.
It includes EU, USA, China, Japanese, Russian and Korean. Germany, Britain, France and Italy; Australia, South Africa, India, Indonesia, Brazil, Saudi Arabia, Mexico, Turkey and Argentina, commonly known as "G20", upgraded to a global financial summit. Many countries account for 90% of the world's gross national product, 2/3 of the world's population and 80% of world trade (including intra-EU trade).
2065438+In September 2006, the 11th summit of G20 leaders was held in West Lake, Hangzhou, China.
G20 consists of Britain, the United States, Japan, France, Germany, Canada, Italy, Russia, Australia, Brazil, Argentina, Mexico, China, Indonesia, India, Saudi Arabia, South Africa, Turkey, South Korea, 19 countries and the European Union.
G20 Summit is an economic event for 65,438+09 countries and the EU to discuss world cooperation and development. The summit aims to promote open and constructive discussion and research on substantive issues between industrialized developed countries and emerging market countries.