Investing.com - China's President Xi Jinping at the weekend urged G20 members to step up policy coordination in order to promote global growth and maintain financial stability.
"We should strengthen macro-economic policy coordination and jointly promote global growth and uphold international financial stability," Xi said in his opening speech at the G20 Hangzhou Summit.
XI said G20 members should pursue more comprehensive macroeconomic policies in keeping with the realities of their own countries and coordinate fiscal, monetary and structural reform to expand aggregate global demand, improve supply quality, and build the foundation for growth.
"We should continue to strengthen policy coordination and reduce policy spillovers," he said.
Xi also called on G20 members to further improve the international monetary and financial system and to allow elements such as the International Monetary Fund's Special Drawing Rights, the basket made up of the world's reserve currencies, to fulfil its role.
Separately, in his meeting with U.S. President Barack Obama, Xi said China's long term economic fundamentals remain sound and the government would adhere to economic policy that would maintain economic stability while making progress.
He said China would firmly advance supply side structural reform, proceed with opening up and reforming the economy, and further facilitate foreign investment access.