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China to host G20 meet next yr

November 22, 2004 14:57 IST
Source:PTI

China will take over from Germany the presidency of the Group of 20 and host the next meeting of the forum comprising most industrialised and main developing countries, including India.

"The theme of the forum next year would be to enhance global cooperation and ensure balanced and orderly development of world economy," Chinese Finance Minster, Jin Renqing said.

The G20 members will, through talks and dialogue, seek ways to overcome imbalance in development and the limitation of the current international economic system, Jin said.

Next year, the G20 members will discuss the rational allocation of production factors such as capital, labour and technology, improvement of the current international economic system and the principles of achieving balanced and orderly economic development.

The first two meetings of deputies are to be held respectively in China's south-western city of Chongqing in March and the north-eastern coastal city of Dalai in September.

The ministerial meeting is to be held in mid-October in Linage, a small town near the Chinese capital, Beijing.

The G20 was founded in 1999 in Berlin as an informal arena to foster dialogue between major industrial and emerging market countries.

Source: PTI
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