This article was first published on WeChat public account: RMB transactions and research. The content of the article belongs to the author's personal opinion and does not represent the position of Hexun.com. Investors should act accordingly, at their own risk. Summer Formal Millinery,Poly Braid Hats,Suit Party Hats,Wedding Fancy Hat SHAOXING YONGJING FASHION HATS & ACCESSORY CO.,LTD. , https://www.yongjingchurchhat.com
Highlights: The global economic environment is full of challenges, and downside risks persist, highlighted by commodity price volatility and low inflation in many economies. Financial market volatility remains high, and geopolitical conflicts, terrorism and refugee flows continue to complicate the global economic environment. We reiterate that excessive exchange rate fluctuations and disorderly adjustments will affect economic and financial stability. We will discuss the communication closely on the foreign exchange market. We emphasize that open trade policies and a strong and secure global trading system are important for promoting global economic inclusive growth, and we will take further action to revive global trade and enhance investment. We recognize that overcapacity in steel and other industries is a global issue that requires a collective response. We look forward to completing the 15th total share inspection before the 2017 annual meeting, including the formation of a new share formula. We reiterate that share adjustment should increase the share of dynamic economies to reflect their relative position in the world economy, so the likely outcome is an overall increase in the share of emerging markets and developing countries. 1. We met in Chengdu to review our efforts to address key economic challenges and the progress made since the beginning of the year. We have worked closely in the spirit of unity and cooperation, and have achieved tangible results on various agendas. These results will be submitted to the Hangzhou Leaders Summit for consideration. 2. The global economy continues to recover, but it is still weaker than expected. At the same time, growth outcomes should be more widely shared within and between countries to promote inclusiveness. The global economic environment is full of challenges, and downside risks persist, highlighted by commodity price volatility and low inflation in many economies. Financial market volatility remains high, and geopolitical conflicts, terrorism and refugee flows continue to complicate the global economic environment. In addition, the results of the Brexit referendum have also increased the uncertainty of the global economy. G20 members are ready to respond positively to the potential economic and financial impact of the UK referendum. In the future, we hope to see the UK as a close partner of the EU. 3. We are taking action to increase confidence and promote growth. In light of recent changes in the situation, we reaffirm our determination to use all and part of our policy instruments, including monetary, fiscal and structural reform policies, to achieve our goals of strong, sustainable, balanced and inclusive growth. Monetary policy will continue to support economic activities, maintain price stability, and be consistent with the central bank's responsibilities, but monetary policy alone cannot achieve balanced growth. While emphasizing the critical role of structural reforms, we also emphasize that fiscal strategies are equally important to promote the achievement of our common growth goals. We are flexible in implementing fiscal policies and implementing more growth-friendly tax policies and public spending, including giving priority to supporting high-quality investments while enhancing economic resilience and ensuring that debt-to-GDP ratios remain sustainable. In addition, we will continue to study the G20 policy measures that are appropriate for each country as needed to support growth and address potential risks, including addressing the vulnerability of the balance sheet. We reiterate that excessive exchange rate fluctuations and disorderly adjustments will affect economic and financial stability. We will discuss the communication closely on the foreign exchange market. We reiterate our previous exchange rate commitments, including avoiding competitive devaluation and not targeting the exchange rate for competitive purposes. We will oppose various forms of protectionism. We will carefully develop and clearly communicate our policy actions in macroeconomic and structural reforms to reduce policy uncertainty, reduce negative spillovers, and increase transparency. 4. With regard to structural reforms, we endorse the “deep structural reform agenda†prepared by the Growth Framework Working Group and appreciate the valuable input provided by the OECD, the International Monetary Fund (IMF) and other relevant international organizations. We note that the choice and design of structural reforms should be consistent with the national economic situation. Based on the nine priority areas of structural reforms identified in April, we have developed a set of guiding principles and agreed. This set of guiding principles will provide members with useful high-level guidance while allowing countries to take care of their specific national circumstances. We also agree on a set of indicators to help monitor and evaluate our efforts and progress and challenges in structural reforms, and we will further strengthen the set of indicators in the future. We are committed to implementing and gradually improving the “deepening the structural reform agenda†and calling on international organizations to continue to provide support. The initial assessment of international organizations and the enhanced peer review show that we have made new progress in implementing the growth strategy, but there is still a lot of work to be done. The rapid and comprehensive implementation of the growth strategy remains critical to supporting economic growth and achieving the common growth ambitions set at the Brisbane Summit. On this basis, in order to redouble our efforts, we are updating our growth strategy to incorporate new and adjusted macroeconomic and structural policy measures and to play the role of mutual support to promote growth. We will complete the growth strategy update before the Hangzhou Summit and complete an accountability report measuring the progress of our growth ambitions. We emphasize that open trade policies and a strong and secure global trading system are important for promoting global economic inclusive growth, and we will take further action to revive global trade and enhance investment. We will also work to reduce excessive imbalances and increase inclusiveness in the pursuit of economic growth. 5. We recognize that the slow recovery of the global economy and the sluggish market demand have made structural problems, including overcapacity in some industries, even more serious, which have had a negative impact on trade and workers. We recognize that overcapacity in steel and other industries is a global issue that requires a collective response. We also recognize that subsidies and other types of support provided by government or government-backed institutions can lead to market distortions and global overcapacity issues that require attention. We are committed to strengthening communication and cooperation and are committed to taking effective measures to address these adjustments in order to strengthen market functions and encourage adjustment. The G20 steel-producing economy will participate in the international community's response to global overcapacity issues, including participation in the OECD Steel Committee meeting scheduled for September 8-9, 2016, and discuss the feasibility of setting up a global forum. As a platform for communication and sharing of global capacity dynamics, government policies and support measures. 6. To support our common growth goals and the 2030 Agenda for Sustainable Development, we reaffirm our commitment to advancing the investment agenda and will focus on infrastructure development, with equal emphasis on quantity and quality. Multilateral development banks have a unique role in supporting infrastructure investment. We have communicated effectively with multilateral development banks, calling on them to act together to support infrastructure investments and promote private investment. To this end, we welcome the commitments made by 11 multilateral development banks in the “Joint Vision Statement for Supporting Infrastructure Investment Initiativesâ€, including the declaration of quantifiable targets for high-quality infrastructure projects within their respective mandates, and Limit efforts to improve the quality of infrastructure projects, strengthen project reserves, enhance cooperation between new and old multilateral development banks, enhance the enabling environment for infrastructure investment in developing countries, and mobilize private investment. We emphasize that high-quality infrastructure investments are important to ensure economic efficiency while addressing life cycle costs, safety, resilience to natural disasters, job creation, capacity building, and transfer of knowledge and expertise. The social and environmental impact of good projects is consistent with economic and development strategies. We welcome the response of the multilateral development banks to the G20 multilateral development bank's optimized balance sheet action plan and call for further implementation of the action plan. Strengthening connectivity is an inevitable requirement of the global economy in the 21st century and plays a key role in promoting sustainable development and sharing prosperity. We have established the Global Infrastructure Interconnection Alliance to strengthen the overall synergy and cooperation of various infrastructure interconnection projects. We ask the World Bank to act as the Alliance Secretariat, working with the Global Infrastructure Center (GIH), the OECD, other multilateral development banks, and interested G20 members to support the Alliance's activities. We approved the G20/OECD Infrastructure and SME Financing Tools Diversification Policy Guidance Document and welcomed GIH's completion of the Government and Social Capital Partnership (PPP) Risk Sharing Analysis Report to help developing countries better assess infrastructure. risk. We support the effective implementation of the G20/OECD Corporate Governance Principles and the G20/OECD SME Financing Advanced Principles, in particular the expectation of a peer review of corporate governance under the Financial Stability Board (FSB) for G20/OECD Corporate Governance The evaluation method of the Principles is revised.