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G20: Agenda
ChinaPolitics

Beijing to push for G20 code on investment

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China’s Foreign Minister Wang Yi addresses reporters in Beijing. Photo: Reuters
Zhuang Pinghuiin BeijingandWendy Wuin Beijing

Beijing aims to come up with a set of guiding principles for global investment when it hosts the G20 summit in Hangzhou in September.

Foreign Minister Wang Yi announced the goal on Thursday as he laid out the agenda for the summit.

Analysts said the goal was part of Beijing’s efforts to position itself as a major international player reshaping rules in global trade and investment despite being excluded from deals such as the US-led Trans-Pacific Partnership.

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With 100 days to go until the summit, Wang said Beijing’s other goals for the gathering included stepping up joint efforts against corruption and deepening reform of the International Monetary Fund.

China scraps G20 anti-corruption task force

He said China would promote a three-pronged approach to tackling corruption: establishing guidelines for pursuing high-level fugitives, setting up a research centre on fugitives and stolen assets, and drawing up a 2017-2018 anti-corruption “action plan”.

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Wang also said China aimed to help transform the “G20 from a crisis-handling mechanism to one that lead the world’s economic growth and international economic cooperation in the long term”.

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