G20 Foundation Publications China 2016 | Page 6

WELCOME PRESIDENT XI JINPING People’s Republic of China 6 The G20 summit mechanism was set up at the height of the international financial crisis in 2008, demonstrating G20 members’ determination to put the global economy back on its feet. The G20 thus became the premier forum for international economic cooperation. Looking back, I believe that the most valuable thing this process has created is the close partnership we have forged that has enabled us to jointly tide over a difficult time. It proves that in a world of deepening economic globalization, cooperation is the sure way for countries to meet challenges and achieve common development. Today, the global economy and international economic cooperation have reached another crucial juncture. Can we strengthen the foundation for global recovery and growth and leave the crisis behind us? Can we seize the historical opportunity presented by technological breakthroughs and a new industrial revolution and usher in a new round of global growth? The answer lies in the course of common action that we will take. Now, all eyes are on the G20. As an important forum for cooperation among developed countries, emerging markets and developing countries, the G20 plays a key role in leading