The reform of the financial institutions will be discussed at the upcoming G20 summit in China

Almaty. August 16. Silkroadnews – The reform of financial institutions will become an important topic of discussion at the upcoming summit of the G20 to be held in Hangzhou, capital of Zhejiang Province (East China) on September 4-5, “Xinhua” agency informs.

According to Deputy Governor of People’s Bank of China Yi Gang, with beginning of China’s presidency in G20 the Chinese experts got actively involved in study and evaluation of macroeconomic situation and political coordination, as well as design of structural reforms at the high level, working on the development of “Hangzhou Action Plan”.

With a view to creation of more stable and flexible international financial architecture China again launched a working group on international financial architectonics, Yi Gang noted. China, for the first time ever, included the green finances issue in the agenda of G20 meeting and created a task force to study this field.

The reform of the financial institutions will be an important issue at the upcoming summit’s agenda. It is expected to result in creation of open and stable financial system, development of framework of prudent macro-policy and inclusive financial system. China will continue to work closely with various countries, thus, seeking to ensure the success of the G20 summit in Hangzhou, Yi Gang said.