Busi­ness 20 group urges steps for clearer poli­cies

China Daily (USA) - - FRONT PAGE - By ZHANG NAN and MENG JING in Hangzhou and JIANG XUEQING in Bei­jing Con­tact the writer at zhong­nan@chi­nadaily.com.cn

Busi­ness 20, a ma­jor sup­port group for the G20 from in­dus­trial and com­mer­cial cir­cles, has called on world lead­ers to make clear and trans­par­ent poli­cies, as well as ef­fec­tive stan­dards for han­dling dis­putes, to curb ris­ing pro­tec­tion­ism in international in­vest­ment.

A num­ber of pro­pos­als by the B20’s or­ga­niz­ing com­mit­tees and task forces will be added to the G20 Sum­mit state­ment this year, said Jiang Zeng­wei, chair­man of B20 China, at a news con­fer­ence on Thurs­day be­fore the B20 and G20 sum­mits in Hangzhou, Zhe­jiang prov­ince.

The B20 pro­pos­als will con­cern international in­vest­ment, em­ploy­ment, in­no­va­tion and in­fra­struc­ture de­vel­op­ment, he said.

It is highly im­por­tant for dif­fer­ent coun­tries to take ac­tions in a united way to take in­fra­struc­ture projects as a lever­age to world eco­nomic de­vel­op­ment.”

The B20 pro­vides a plat­form for international com­pa­nies and cham­bers of com­merce to par­tic­i­pate in global eco­nomic gov­er­nance and eco­nomic and trade reg­u­la­tion through meet­ings and sum­mits. It col­lects the opin­ions of world busi­ness lead­ers and de­vel­ops a con­sen­sus.

More than 3,300 in­vest­ment agree­ments are cur­rently used in global mar­kets.

“The B20 sug­gests rel­e­vant international or­ga­ni­za­tions re­assess the cur­rent in­vest­ment agree­ments to build a more ef­fec­tive stan­dard to bet­ter re­solve dis­putes and as­sist global in­vest­ment ac­tiv­i­ties,” said Jiang, chair­man of the China Coun­cil for the Pro­mo­tion of International Trade.

A to­tal of 815 rep­re­sen­ta­tives will at­tend this year’s B20 Sum­mit in Hangzhou.

Zhang Yan­ling, a mem­ber of the ex­ec­u­tive board of the International Cham­ber of Com­merce and former vi­cepres­i­dent of Bank of China, said: “It is highly im­por­tant for dif­fer­ent coun­tries to take ac­tions in a united way to take in­fra­struc­ture projects as a lever­age to world eco­nomic de­vel­op­ment,” said Zhang.

Zhang Yan­ling, former vi­cepres­i­dent of Bank of China

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