Leaders of the Group of 20 economies stressed their commitment to achieving "strong, sustainable, balanced and inclusive growth," even as they face mounting structural and other challenges standing in the way of reaching their goals.
Chinese President Xi Jinping, the chair of this year's meeting, hailed the outcome of the two-day summit in the eastern Chinese city of Hangzhou, saying the event "achieved fruitful results," as the leaders displayed solidarity for closer coordination of macroeconomic policies.
In the "Hangzhou Consensus" adopted by the G-20 advanced and emerging economies, the leaders pledged to use all available policy tools — monetary, fiscal and structural policies — to lift growth, placing emphasis on structural reforms for medium- to long-term economic expansion.