Leaders of the United States, Britain, France and Canada on Sunday voiced almost unanimous support to the targets set by the Group of 20 (G20) on advanced economies' debt size, and said they had plans to meet these targets.
Chinese President Hu Jintao laid out on Sunday a three-point proposal for promoting a strong, sustainable and balanced global economic growth.
The G20 countries would renew their commitment to refrain from raising barriers or imposing new barriers to investment or trade in goods and services for a further three year, until the end of 2013.
Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016.
President Hu Jintao and other leaders of G20 members gathered in Toronto for the group's fourth summit, which will focus on ways to secure the world economic recovery and address the economic challenges and risks. Full Coverage China outlines its G20 agenda
Brazilian President Luiz Inacio Lula da Silva will call on other countries to maintain their stimulus measures to boost economic growth when he attends the G20 summit in Toronto this weekend, a government spokesman said Thursday.
China is keen to strike a free trade pact with Australia soon and opposes any return to protectionism in response to the global economic crisis, China's vice-president said Monday.
Indonesia has supported a crucial proposal discussed among G20 nations to impose tax on financial transactions, to be spent on bailing out financial institutions during crises, local media reported here Wednesday.
Eurozone nations have begun setting up a massive bailout fund that could rescue any member of Europe's currency union from default, aiming to soothe market jitters that have sent the euro to a new four-month low against the dollar.
The meeting of the G20 finance ministers and central bank governors on Saturday ended in South Korea's southeastern port city of Busan, leading to a joint communique calling for member countries' continued efforts on financial reform.
Finance ministers and central bankers from the world's leading economies agreed Saturday on the need to cooperate in fending off financial market turmoil and keeping the world economic recovery on track.
South Korean Financial Minister Yoon Jeung-hyun on Saturday announced a joint communique signed by financial leaders of the G20 countries as the conclusion of the Busan G20 financial meeting, calling for continued efforts for financial repair and reform.