By Sheena on August 26,2016

2016 China Hangzhou G20 Summit and Yiwu Market


 What’s G20 Summit?

The G20 is an international forum for the governments and central bank governors from 20 major economies. It’s found with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization. The G20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008, and the group also hosts separate meetings of finance ministers and central bank governors. 
The G20 Summit is regarded as the parameter of global economies tendency and entitled as the global most deciding leaders’ summit. The 2016 G20 Summit is held in Hangzhou, China. As the principle of the 2016 G20 Summit, China are pleased to make any contribution to move forward global economies. Key messages are to build an innovative, energetic, united and inclusive global economies environment. 
Thus, here comes the question. “What benefits can Yiwu get from the Hangzhou G20 Summit?” Yiwu, as a city close to Hangzhou, can benefit from the opening of G20 Summit. First, the fact that Hangzhou holds the G20 can boost and forge Hangzhou and nearby cities’ infrastructure construction ahead, of course, including Yiwu. With the approaching of G20, green plants are replanted; illegal buildings are torn down, and scenic landscapes are rebuilt. Yiwu has gone through a reshuffle and been more refreshing than ever. Second, on the Summit, China will announce its efforts on carrying out Silk Road One Belt One Road, the 21st Ocean Silk Road, Asia Infrastructure Investment Bank, Silk Road Funds, etc. In particular, Yiwu-Madrid International Cargo train is a critical part of the Silk Road economic belt. Third, Yiwu small commodities are really famous in Middle-Asia, and Russia. The floral umbrella that England Queen used is from Yiwu market. After the G20 Hangzhou Summit, the government is expected to release more favorable policies to Yiwu. 
Yiwu, as the city containing the most international cargo train lines, is emerging as an important image around the world. Yiwu-Madrid cargo train is traversing the most countries and is of the longest miles until now. It redirected the trade channel among China, Europe, and Middle Asia, and massively boosted the economic development among countries along the Silk Road scheme. 


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