First, we are determined to point the way and set the course for the world economy. We share the view that the world economic recovery remains weak, weighed down by insufficient drivers of growth and negative impact of regional and international hot-spots and global challenges. It is crucial to maintain peace and stability and foster an enabling environment for world economic development. We will further strengthen macro-policy dialogue and coordination, work in the spirit of partnership to promote mutual help and win-win cooperation, and concentrate our minds and energy to pursue strong, sustainable, balanced and inclusive growth. We have adopted the G20 Leaders’ Communiqué of the Hangzhou Summit. It sets out the direction, goals and steps for G20 cooperation, embodies the Hangzhou Consensus for growth, and provides the blueprint for building an innovative, invigorated, interconnected and inclusive world economy.

 

We believe that addressing the risks and challenges to today’s world economy requires multi-pronged solution to tackle both the symptoms and the root causes. A host of effective policy tools, fiscal, monetary and structural, must be leveraged to sharpen vigilance and buffer against short-term risks, unleash medium- to long-term potential, ensure sufficient aggregate demand, and improve the quality of supply. This will send a strong signal of G20’s commitment to global growth, and will go a long way to shoring up market confidence and ensuring stability of global financial markets.

 

Second, we are determined to break a new path for growth and instill new dynamism into the world economy. We have unanimously adopted the G20 Blueprint on Innovative Growth. It reflects our desire to find the right pathway toward sustained and healthy growth of the world economy, capitalize on the new opportunities brought about by innovation, the new industrial revolution, digital economy and other new factors and business types, and flesh out a series of specific action plans. We agree to encourage multi-leveled innovation in a wide range of domains, including development concepts, institutional architecture and business models, with science and technology innovation at the core. We also believe that fruits of innovation should be shared. We decide to forge ahead with structural reform and have identified the priority areas, guiding principles and a set of indicators. The Blueprint provides us with the consensus, action plan and the overall framework to open up a new path for global growth and increase medium- to long-term potential of the world economy.