Chinese Finance Minister Lou Jiwei said at the opening of the G20 meeting in Shanghai on Friday that the group's members should work to promote sustainable economic growth, enhance economic momentum and revitalize the world economy.
Lou said the global economy faces daunting challenges and the G20 members should be aware of a potential economic and output slowdown. He said the G20 countries should deepen structural reforms to promote growth.
Lou said the biggest problems the global economy is facing are a high jobless rate and gloomy finance and investment sectors. The minister said the G20 members should reduce market entry barriers, and promote trade and investment. He said the G20 countries need to enhance policy coordination and enhance fiscal sustainability.
