Blog

Hamburg G20 Summit

A gist of the blog:

In the past weekend, I attended the Group of Twenty (G20) Leaders' Summit in Hamburg, Germany, as part of the delegation of the People's Republic of China. The Summit provides an important forum for leaders of major economies to discuss cooperation in various aspects, with an objective of promoting sustainable and balanced economic growth for the world.

Today, nearly ten years after the global financial crisis, the global economy finally shows signs of recovery, and the financial system has become more resilient than before. However, the global economy is now facing a number of new challenges, such as terrorism, climate change, geopolitical conflicts, as well as refugee flows, poverty and epidemics.

At the same time, we have been in recent years witnessing the surge of protectionism as well as growing anti-globalisation sentiments. Indeed, many of the people in the society who are less competitive feel that they have not been able to enjoy the benefits of globalisation. How the government can play a better role in sharing the fruits of economic advancement with people from all walks of life while promoting economic growth is a matter worth contemplating. These are exactly the key points that I highlighted in this year’s Budget - “to proactively develop the economy and improve people's livelihood; to invest continuously for the future and make Hong Kong an even more liveable city; and to build a fair and just society”.