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Third, to promote steady recovery of the world economy, we will need efficient and orderly global governance. In the face of common challenges, we need to uphold the spirit of solidarity and work for common progress. This is a sure way for us to move forward. Countries need to adopt more growth-friendly policies, strengthen macro policy coordination, steadfastly advance trade and investment liberalization and facilitation, firmly oppose protectionism and build a fairer, more just and open international economic system. The world's major economies, while making macro-economic policies, should consider not just their own growth needs but also the spillover effects of their policies. This September, the G20 Summit will be held in Hangzhou, China. The ongoing Summer Davos has a special session on "China's G20 Agenda". I find it highly relevant as it will contribute insights and recommendations to China's hosting of the G20 Hangzhou Summit.

The drill aims to train firepower applications in encounters, attack and defense, landing and anti-landing, etc. the army said.

We need to advance structural reform, in particular that on the supply side. The structural problems facing the Chinese economy are about both the supply and demand sides, especially the supply side. We need to advance structural adjustment through reform, reduce inefficient and low-end supply, and expand effective and medium- to high-end supply. This is conducive to economic transformation as well as growth. A major task for us is to phase out outdated production capacity and address overcapacity, especially in steel, coal and other sectors that face difficulty in operation. Initial progress has been made in recent years, as is shown in the lowering production of raw coal and crude steel, but our efforts must well continue. We will adopt a market-based and rules-based approach and apply strict standards in environmental protection, quality and safety. The biggest challenge is how to address possible layoffs in this process. Businesses need to take multiple measures to ensure that their employees will get reemployed. Both the central and local governments should provide necessary support to take care of the affected employees. Overcapacity is a global challenge. The fact that we have taken the initiative to cut overcapacity demonstrates that China is indeed a responsible country.

They promised to jointly construct the Silk Road Economic Belt, which they said can be one of the tools for facilitating regional economic cooperation.

The organization has also begun to discuss security issues and actions against drug threats, he added.