G20 to explore long-term growth potential

Leaders of the Group of 20 (G20) major economies agreed to use multiple policy tools including fiscal, monetary and structural reform to ward off short-term risk and explore medium- and long-term growth potential, Chinese President Xi Jinping said on Monday.

G20 should work together to coordinate their macro policies more closely and implement the Hangzhou Action Plan, Xi told reporters after the conclusion of the 11th G20 summit in eastern Chinese city of Hangzhou.

These policies should not only expand aggregate demand but also improve the quality of supply, Xi said.

The G20 is determined to point the direction and chart the path for the world economy, Xi said, adding that facing current economic risks and challenges, maintaining a peaceful and stable international environment is paramount.

"We are confident that, through the joint efforts of all parties, we can bring the world economy back to strong, sustainable, balanced and inclusive growth track," Xi said.

Reprinted from China.org.cn