Policy recommendations will be forwarded to G20 gathering; forum provides a platform for Chinese entrepreneurs' voices

President Xi Jinping will deliver the keynote speech at the opening ceremony of the Business 20 Summit on Sept 3, when a policy advisory report drafted by business leaders attending the event will also be introduced, officials said.

The B20 Summit, part of a calendar of events for China's G20 presidency in 2016, will be held over two days and includes an opening ceremony, a plenary meeting and a closing ceremony, said Yu Jianlong, head of the B20 host committee.

Hangzhou will be the first Chinese city to host a G20 Summit, which is a major forum for global economic and financial cooperation that gathers the world's most developed and emerging economies, representing about 85 percent of global GDP and two-thirds of the world's population.

The final draft of the B20 policy recommendation report has been completed and is ready for submission to the G20, according to Yu.

The theme for this year's G20 Leaders Summit, which will be held Sept 4 and 5, is "Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy".

About 800 business leaders from G20 member states will meet in East China's Hangzhou next month, and about half the attendees will be Chinese, said Yu.

According to Sun Xiao, the host committee's report leader, a strong characteristic of this year's B20 will be the high engagement of Chinese business leaders.

"China has become the world's second-largest economy with the largest trade volume, so it is natural for Chinese entrepreneurs to voice their thoughts and give advice about the world economy," said Sun, adding that the report's proposals include green financing, international investment, business transparency and establishing a global e-commerce trading platform.

Yu, the committee head, said that all convention facilities were now in place, with organizers pushing ahead with other elements such as the delegates' reception, logistics support and security.

This year's B20 has six issues on its agenda - promoting financial growth, trade and investment, infrastructure construction, small and medium enterprise development, employment and anti-corruption.

As a tradition, B20 attendees produce policy recommendations for the annual meeting of the G20 leaders. The gathering brings together G20 business leaders to reflect upon the role of the private sector as the main driver of economic growth.

wang_ying@chinadaily.com.cn