Overview of President's Xi address at B20 Summit

President Xi Jinping addresses global business audience in Hangzhou yesterdayHere is a bit of a precis of some of the the key issues covered by President Xi in a comprehensive and wide-rangingspeech.

At yesterday's B20 Summit, President Xi charted China's development over the last few decades, acknowledged international focus on China's economy and spoke about the prospects for the Chinese economy referring to the 13th 5 year plan, including continued commitment for further reform and opening up. ?He repeatedly mentioned this is a new starting point. There will be further integration into world economy and more opening up. Steadfast commitment to reform, crucial to achieving medium growth. Resolved to take painful decisions. Stressed importance of supply-side reform and tackling vested interests. Stressed the importance of science and innovation. Quality growth is essential. And aim is to move companies up the value curve. Green development also is a priority: including adressing climate change and overcapacity. Blue skies, green vegatation and clear rivers. Further capacity cuts in steel and coal mining over next 5 years. Equity and sharing of development outcomes - a focus on people. Commitment to poverty alleviation in all counties by 2020. A solemn commitment. More progress to be seen on FTAs, FTZs and RMB liberalisation. Continued commitment to the Belt and Road Initiative. He noted rising protectionism, sluggish trade and investment and a slew of complex global issues. G20 to offer an integrated presciption to address challenges. Impetus through Innovation and vitality from reform. 

As Preisdent Xi himself noted several times, actions speak lounder than words.