(1 Sep 2016) Leaders of the world's major economies meeting for a summit in China this weekend will issue a plan to promote global growth that is "robust, sustainable, balanced and inclusive," the deputy governor of China's central bank said on Thursday.
Leaders of the United States, China and other Group of 20 (G20) nations will gather in the eastern city of Hangzhou for a two-day meeting that has the main goal of setting a common agenda for boosting sluggish economic growth.
But other global issues are likely to dominate the agenda in behind-the-doors discussions and during bilateral talks.
Referring to the Hangzhou Action Plan, which is expected to complement a communique at the end of the summit, the People's Bank of China's Deputy Governor, Yi Gang, said that the goal of the plan is to use all available policy areas to promote growth.
Leaders of the countries say more free trade would shore up that growth, yet despite such endorsements, G20 economies including the United States, Japan and Canada are tightening import controls in response to what they say are unfair foreign tactics.
Asked about what Beijing is willing to do to open its markets, Yi said that China is concerned about protectionism.
"I think that we promote free trade," he said, adding that "free trade will promote the welfare of the global people."
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