It consists of Canada, the United States, the United Kingdom, France, Germany, Italy, Japan, Brazil, Russia, India, China, South Africa, Mexico, Argentina, Turkey, Saudi Arabia, South Korea, Indonesia, Australia, and the European Union, with China.

Before the outbreak of the international financial crisis, the G20 only held meetings of finance ministers and central bank governors to exchange views on international financial and monetary policies, international financial system reform, world economic development and other issues.

After the outbreak of the international financial crisis, at the initiative of the United States, the G20 was upgraded to a leaders' summit.

The Pittsburgh Summit held in September 2009 identified the G20 as the main forum for international economic cooperation, marking important progress in the reform of global economic governance.

At present, the G20 mechanism has formed a structure led by the summit, supported by the "dual-track mechanism" of coordinators and financial channels, and assisted by ministerial meetings and working groups.

The establishment of the G20 has brought new impetus and new opportunities for the international community to work together to respond to the economic crisis and promote the reform of global governance mechanisms. Global governance has begun to transform from "Western governance" to "Western and non-Western governance together."

Leaders’ Summit In response to the economic crisis from 2007 to 2010, the G20 has held a Leaders’ Summit since 2008 to discuss countermeasures, and has held an annual summit since 2009.

Another purpose of the summit is to correct the situation that emerging industrial countries were not included in past meetings and management of the global economy.

On March 26, 2020, in response to the COVID-19 epidemic, the G20 Special Summit was held in the form of a remote video conference. This was the first remote video conference in the history of the G20.

Leaders of the G20 member states and specially invited Jordan, Singapore, Switzerland, Vietnam, the rotating chair of ASEAN, South Africa, the rotating chair of the African Union, the United Arab Emirates, the rotating chair of the GCC, and Rwanda, the rotating chair of the New Partnership for Africa's Development, etc.

The meeting was attended by national leaders and heads of international organizations such as the United Nations, World Bank, World Health Organization, World Trade Organization, International Labor Organization, International Monetary Fund and Organization for Economic Cooperation and Development.

Extended information: History The G20 was established after the Asian financial crisis in the late 1990s. It is a forum attended by 19 developed and developing countries as well as EU finance ministers and central bank governors. Every year, ministers gather to discuss the global economy,

Fiscal and financial issues are often discussed in conjunction with the annual meetings of the International Monetary Fund and the World Bank in Washington.

The establishment of the G20 was originally proposed by the finance ministers of the Group of Eight in Washington, the United States, in September 1999. The purpose was to prevent a recurrence of the Asian financial crisis and allow relevant countries to hold informal dialogues on international economic and monetary policies.

Conducive to the stability of the international financial and monetary system.

Developed countries and developing countries each account for half of the G20, and the structure is relatively balanced.

The G20's total GDP accounts for 85% of global GDP, trade accounts for more than 80% of global trade, and its population accounts for 2/3 of the global population.

The G20 is a forum without a permanent executive body such as a secretariat.

The G20 has held leaders’ summits since 2008.

As the host of the first summit in 2008, the United States proposed to establish a summit coordinator mechanism based on the G7/G8 model; each country appoints a G20 coordinator, who is directly responsible to the heads of state/heads of each country. The task is to prepare for the summit, draft summit documents,

coordinate positions, etc.

After several months of intense preparations, the G20 held its first summit in Washington in mid-November 2008. The topic was to cooperate to respond to the financial crisis and prevent the collapse of the global financial system.

As the G20 structure matured, and in order to reflect the importance of emerging industrial countries, leaders of the G20 member states announced in 2009 that the organization would replace the G8 as the main forum for global economic cooperation.

The success of the G20 in the first few years was largely due to the cooperation and cooperation between China and the United States. At that time, the United States was already unhappy with the G7/G8's inability to respond to the financial crisis and the impact of the euro on the U.S. dollar's international reserve currency monopoly. It hoped that

By enhancing the status of developing countries such as China, it warns the European Union and the euro, so it actively reforms global governance.

There are inherent conflicts between the UK and other members of the EU, and the pound is an independent currency. There is not much benefit in the euro being larger than the pound, so it naturally supports the United States. European countries such as Germany and France are opposed to China and other emerging market countries playing a greater role in global governance.

No objection. The main concern is that Europe as a whole does not have as much say in the G20 as it does in the G7/8.

Japan, Mexico and others are opposed to the replacement of the G20/G8 and the cancellation of the G8 and the five countries.

Since the Meiji Restoration, Japan has always regarded itself as a "Western" country and has always been said to "leave Asia and join Europe"; Japan does not want to lose its leadership position in the Group of Seven/G8.