G20 Summit in the City of Hangzhou.

Posted on Posted in Business

Hangzhou West Lake at SunsetHangzhou, a city I frequent a lot, is basically a well-known tourist destination both with Chinese nationals and foreigners alike. It boasts beautiful natural landscapes, architecture and a long and important history.

It is the capital and most populous city of Zhejiang Province in east China. It sits at the head of Hangzhou Bay, which separates Shanghai and Ningbo where I currently live. The city's West Lake is its best-known attraction.

According to Wikipedia, G20 Summit is an international forum for the governments and central bank governors from 20 major economies. It was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.

Since its inception, the G20's membership policies have been criticized by numerous intellectuals, and its summits have been a focus for major protests by anti-globalists, nationalists and others.

Possibly for this reason, security has been extremely tight here in Hangzhou. With the anticipation of all these foreign high level officials, Hangzhou police have been out in force. Hangzhou and China itself is not going to take any chances on anything out of the ordinary happening while G20 Summit is in session.

Hangzhou West Lake Snow on the BridgeBoth Chinese and foreigners have been asked to not enter the city unless they actually live or work there. Many of the shops and restaurants are currently closed. Factories have shut and security is tight.

Local residents have been given seven days extra vacation time and discounted tours to destinations outside the city to ensure Hangzhou is free of crowds and traffic.

Today, as the world economy and international economic cooperation have come to yet another turning point, expectations are high for the Hangzhou Summit among various parties. China hopes that the G20 Hangzhou Summit this year will achieve the following objectives:

  1. To play a leading role, demonstrate ambition and chart the course for world economic growth.
  2. To strengthen international economic cooperation and highlight the spirit of partnership and joint efforts in response to risks and challenges.
  3. To innovate institutional building and create cooperation platforms to shift the G20 Summit from a mechanism for crisis response to one of long-term governance.

Hangzhou West Lake Bridge

China will work with all parties for positive outcomes of the G20 Hangzhou Summit for the benefit of the whole world and future generations.

The logo of the G20 Hangzhou Summit features the image of a bridge, drawn in 20 lines. It implies a keen hope for the G20 Summit to become a bridge in the global economy, a bridge that brings parties together in win-win global cooperation oriented toward the future. The symmetrically curved lines in the bridge are meant to be reminiscent of fiber-optic cables, referring to an interconnected world in an information age.

G20_Hangzhou Logo

Leave a Reply

Your email address will not be published. Required fields are marked *