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G20 Summits > 2016 Hangzhou Summit
G20 Analysis

The 2016 G20 Hanghzou Summit Commitments

Identified by Brittaney Warren
October 5, 2016

#	Document	Total Commitments
1	Leaders' Communiqué*	140
2	Blueprint on Innovative Growth	50
3	Hangzhou Action Plan	23
	Total	213

*The Annex to G20 Leaders' Communiqué does not contain any commitments

Issue Area	Number of Commitments	Percentage of Total Commitments
Information and Communications Technology	50	24
Macroeconomics	31	15
Financial Regulation	25	12
Trade	24	11
Development	18	8
Labour and Employment	9	4
Energy	8	4
Infrastructure	8	4
Crime and Corruption	7	4
International Cooperation	5	2
Accountability	4	2
Reform of International Financial Institutions	4	2
Food and Agriculture	3	1
Terrorism	3	1
Migration/Refugees	3	1
Health	3	1
Microeconomics	3	1
G7/G20 Governance	2	1
Climate Change	2	1
Social Policy	1	0.4
Total	213	100

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G20 Leaders' Communiqué (140)

2016-1	We are determined to foster an innovative, invigorated, interconnected and inclusive world economy to usher in a new era of global growth and sustainable development, taking into account the 2030 Agenda for Sustainable Development, the Addis Ababa Action Agenda and the Paris Agreement.
2016-2	Vision. We will strengthen the G20 growth agenda to catalyze new drivers of growth, open up new horizons for development, lead the way in transforming our economies in a more innovative and sustainable manner and better reflect shared interests of both present and coming generations.
2016-3	Integration. We will pursue innovative growth concepts and policies by forging synergy among fiscal, monetary and structural policies, enhancing coherence between economic, labor, employment and social policies as well as combining demand management with supply side reforms, short-term with mid- to long-term policies, economic growth with social development and environmental protection.
2016-4	Openness. We will work harder to build an open world economy, reject protectionism, promote global trade and investment, including through further strengthening the multilateral trading system, and ensure broad-based opportunities through and public support for expanded growth in a globalized economy.
2016-5	Inclusiveness. We will work to ensure that our economic growth serves the needs of everyone and benefits all countries and all people including in particular women, youth and disadvantaged groups, generating more quality jobs, addressing inequalities and eradicating poverty so that no one is left behind.

Strengthening Policy Coordination

2016-6	We are determined to use all policy tools - monetary, fiscal and structural - individually and collectively to achieve our goal of strong, sustainable, balanced and inclusive growth.
2016-7	Furthermore, we will continue to explore policy options, tailored to country circumstances, that the G20 countries may undertake as necessary to support growth and respond to potential risks including balance sheet vulnerability.
2016-8	We reiterate that excess volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability.
2016-9	We reaffirm our previous exchange rate commitments, including that we will refrain from competitive devaluations and we will not target our exchange rates for competitive purposes.
2016-10	We will carefully calibrate and clearly communicate our macroeconomic and structural policy actions to reduce policy uncertainty, minimize negative spillovers and promote transparency.
2016-11	We will also strive to reduce excessive imbalances, promote greater inclusiveness and reduce inequality in our pursuit of economic growth.
2016-12	While reaffirming the importance of addressing shortfalls in global demand to support short-term growth, we believe it is also imperative to address supply side constraints so as to raise productivity sustainably, expand the frontier of production and unleash mid- to long-term growth potential.

Breaking a New Path for Growth

2016-13	We are committed to tackling one of the root causes of weak growth by taking innovation as a key element of our effort to identify new growth engines for individual countries and the world economy, which will also contribute to creating new and better jobs, building a cleaner environment, increasing productivity, addressing global challenges, improving people's lives and building dynamic, cooperative and inclusive innovation ecosystems.
2016-14	We thus endorse the G20 Blueprint on Innovative Growth as a new agenda encompassing policies and measures in and across the areas of innovation, the new industrial revolution and the digital economy.
2016-15	We will act on the recommendations of the Blueprint in accordance with our national circumstances and in line with our vision for leadership, partnership, openness, inclusiveness, creativity, synergy and flexibility.
2016-16	We commit to important cross-cutting actions related to multi-dimensional partnerships, supporting developing countries and improving skills and human capital.
2016-17	We will set up a G20 Task Force supported by the OECD and other relevant international organizations to take forward the G20 agenda on innovation, new industrial revolution and digital economy, subject to the priorities of the respective future G20 presidencies, ensuring continuity and consistency with the results so far, and promoting synergies with other G20 workstreams.
2016-18	To achieve innovation-driven growth and the creation of innovative ecosystems, we support dialogue and cooperation on innovation, which covers a wide range of domains with science and technology innovation at its core.
2016-19	We commit to pursue pro-innovation strategies and policies….including support for the entry of more women into these fields
2016-20	[We commit to] support investment in science, technology and innovation (STI)…including support for the entry of more women into these fields
2016-21	[We commit to support] skills training for STI - including support for the entry of more women into these fields
2016-22	[We commit to support] mobility of STI human resources.
2016-23	We support effort to promote voluntary knowledge diffusion and technology transfer on mutually agreed terms and conditions.
2016-24	Consistent with this approach, we support appropriate efforts to promote open science and facilitate appropriate access to publicly funded research results on findable, accessible, interoperable and reusable (FAIR) principles
2016-25	We are committed to foster exchange of knowledge and experience by supporting an online G20 Community of Practice within the existing Innovation Policy Platform and the release of the 2016 G20 Innovation Report.
2016-26	We commit to strengthen communication, cooperation and relevant research on the NIR [New Industrial Revolution Plan],
2016-27	[We commit to] facilitate small and medium-sized enterprises (SMEs) to leverage benefits from the NIR,
2016-28	[We commit to] address employment and workforce skill challenges, encourage more cooperation on standards [NIR],
2016-29	[We commit to address] adequate and effective IPR protection in line with existing multilateral treaties to which they are parties [NIR],
2016-30	[We commit to address] new industrial infrastructure, and support industrialization, as committed in the action plan [NIR].
2016-31	We also support industrialization in developing countries, especially those in Africa and Least Developed Countries (LDCs).
2016-32	We are committed to supporting our workforces throughout this transition and to ensuring that the benefits of the NIR extend to all, including women, youth and disadvantaged groups.
2016-33	We call for cooperation to maximize the benefits and mitigate the negative impact of the expected technological and industrial changes.
2016-34	In all these initiatives [re: the NIR], the G20 will take into consideration the different opportunities and challenges for developing and developed countries.
2016-35	We aim to foster favorable conditions for its [the G20 Digital Economy Development and Cooperation Initiative] development and to address digital divide, including through expanded and better and affordable broadband access, while ensuring respect for privacy and personal data protection, investment in the ICT sector, entrepreneurship, digital transformation, e-commerce cooperation, enhanced digital inclusion and development of micro, small and medium-sized enterprises (MSMEs).
2016-36	[We aim to foster favorable conditions for its [the G20 Digital Economy Development and Cooperation Initiative] development and to address digital divide, including through] flow of information for economic growth, while ensuring respect for privacy and personal data protection, investment in the ICT sector, entrepreneurship, digital transformation, e-commerce cooperation, enhanced digital inclusion and development of micro, small and medium-sized enterprises (MSMEs).
2016-37	[We aim to foster favorable conditions for its [the G20 Digital Economy Development and Cooperation Initiative] development and to address digital divide, including through] trust and security, while ensuring respect for privacy and personal data protection, investment in the ICT sector, entrepreneurship, digital transformation, e-commerce cooperation, enhanced digital inclusion and development of micro, small and medium-sized enterprises (MSMEs).
2016-38	We reaffirm paragraph 26 in the Antalya Communique, commit to offer policy support for an open and secure environment and recognize the key role of adequate and effective IPR protection and enforcement to the development of the digital economy.
2016-39	We endorse the nine priority areas of structural reforms and a set of guiding principles identified in the Agenda to provide high-level and useful guidance to members, while allowing them to account for their specific national circumstances.
2016-40	We also support the quantitative framework consisting of a set of indicators, which will be improved over time, to help monitor and assess our efforts and progress with structural reforms and challenges.
2016-41	We are putting in place an integrated strategy for growth with short, medium and long-term measures.
2016-42	We will ensure that the Enhanced Structural Reform Agenda and the relevant elements of the Blueprint on Innovative Growth are well articulated.

More Effective and Efficient Global Economic and Financial Governance

2016-43	Our growth, to be resilient, must be underpinned by effective and efficient global economic and financial architecture. We will continue our work in this regard.
2016-44	We endorse the G20 Agenda Towards A More Stable and Resilient International Financial Architecture.
2016-45	We will continue to improve the analysis and monitoring of capital flows and management of risks stemming from excessive capital flow volatility.
2016-46	We support work to further strengthen the Global Financial Safety Net (GFSN), with a strong, quota-based and adequately resourced IMF at its center, equipped with a more effective toolkit, and with more effective cooperation between the IMF and regional financing arrangements (RFAs), respecting their mandates.
2016-47	We support maintaining access to bilateral and multilateral borrowing agreements between members and the IMF, in line with the objective of preserving the IMF's current lending capacity, and call for broad participation of the IMF membership, including through new agreements.
2016-48	We are committed to protecting the voice and representation of the poorest members [of the IMF]
2016-49	We support the World Bank Group to implement its shareholding review according to the agreed roadmap, timeframe and principles, with the objective of achieving equitable voting power over time.
2016-50	We support the continued effort to incorporate the enhanced contractual clauses into sovereign bonds.
2016-51	We support the Paris Club's discussion of a range of sovereign debt issues, and the ongoing work of the Paris Club, as the principal international forum for restructuring official bilateral debt, towards the broader inclusion of emerging creditors.
2016-52	We support the ongoing examination of the broader use of the SDR, such as broader reporting in the SDR and the issuance of SDR-denominated bonds, as a way to enhance resilience.
2016-53	To this end, we remain committed to finalizing remaining critical elements of the regulatory framework and to the timely, full and consistent implementation of the agreed financial sector reform agenda, including Basel III and the total-loss-absorbing-capacity (TLAC) standard as well as effective cross-border resolution regimes.
2016-54	We reiterate our support for the work by the Basel Committee on Banking Supervision (BCBS) to finalize the Basel III framework by the end of 2016, without further significantly increasing overall capital requirements across the banking sector, while promoting a level playing field.
2016-55	We welcome the second annual report of the Financial Stability Board (FSB) on implementation and effects of reforms, and will continue to enhance the monitoring of implementation and effects of reforms to ensure their consistency with our overall objectives, including by addressing any material unintended consequences.
2016-56	We will continue to address the issue of systemic risk within the insurance sector.
2016-57	We are committed to full and timely implementation of the agreed over-the-counter (OTC) derivatives reform agenda, and we will remove legal and regulatory barriers to the reporting of OTC derivatives to trade repositories and to authorities' appropriate access to data.
2016-58	We encourage members to close the gap in the implementation of the Principles for Financial Market Infrastructures
2016-59	We will continue to closely monitor, and if necessary, address emerging risks and vulnerabilities in the financial system, including those associated with shadow banking, asset management and other market-based finance.
2016-60	We will continue to address, through the FSB-coordinated action plan, the decline in correspondent banking services so as to support remittances, financial inclusion, trade and openness.
2016-61	We endorse the G20 High-level Principles for Digital Financial Inclusion, the updated version of the G20 Financial Inclusion Indicators and the Implementation Framework of the G20 Action Plan on SME Financing.
2016-62	We encourage countries to consider these principles in devising their broader financial inclusion plans, particularly in the area of digital financial inclusion, and to take concrete actions to accelerate progress on all people's access to finance.
2016-63	We will continue our support for international tax cooperation to achieve a globally fair and modern international tax system and to foster growth, including advancing on-going cooperation on base erosion and profits shifting (BEPS)
2016-64	[We will continue our support for international tax cooperation to achieve a globally fair and modern international tax system and to foster growth, including advancing] exchange of tax information
2016-65	[We will continue our support for international tax cooperation to achieve a globally fair and modern international tax system and to foster growth, including advancing] tax capacity-building of developing countries and tax policies to promote growth and tax certainty.
2016-66	[We will continue our support for international tax cooperation to achieve a globally fair and modern international tax system and to foster growth, including advancing] tax policies to promote growth and tax certainty.
2016-67	We support a timely, consistent and widespread implementation of the BEPS package and call upon all relevant and interested countries and jurisdictions that have not yet committed to the BEPS package to do so and join the framework on an equal footing.
2016-68	We endorse the proposals made by the OECD working with G20 members on the objective criteria to identify non-cooperative jurisdictions with respect to tax transparency.
2016-69	We encourage countries and international organizations to assist developing economies in building their tax capacity and acknowledge the establishment of the new Platform for Collaboration on Taxation by the IMF, OECD, UN and WBG.
2016-70	Recognizing the detrimental effects of corruption and illicit finance flows on equitable allocation of public resources, sustainable economic growth, the integrity of the global financial system and the rule of law, we will reinforce the G20's efforts to enhance international cooperation against corruption, while fully respecting international law, human rights and the rule of law as well as the sovereignty of each country.
2016-71	We endorse the G20 High Level Principles on Cooperation on Persons Sought for Corruption and Asset Recovery and welcome Chinese initiative to establish in China a Research Center on International Cooperation Regarding Persons Sought for Corruption and Asset Recovery in G20 Member States, which will be operated in line with international norms.
2016-72	We commit to continue the G20 Denial of Entry Experts Network.
2016-73	Consistent with our national legal systems, we will work on cross-border cooperation and information sharing between law enforcement and anti-corruption agencies and judicial authorities.
2016-74	We will endeavor to apply effectively the extradition, mutual legal assistance and asset recovery provisions of the above Convention [UN Convention Against Corruption] and other applicable international conventions.
2016-75	We endorse the 2017-2018 G20 Anti-Corruption Action Plan to improve public and private sector transparency and integrity, implementing our stance of zero tolerance against corruption, zero loopholes in our institutions and zero barriers in our actions.
2016-76	In line with the G20 Principles on Energy Collaboration, we reaffirm our commitment to building well-functioning, open, competitive, efficient, stable and transparent energy markets, fostering more effective and inclusive global energy architecture to better reflect the changing realities of the world's energy landscape, and shaping an affordable, reliable, sustainable and low greenhouse gas (GHG) emissions energy future while utilizing energy sources and technologies.
2016-77	We endeavor to work with Sub-Saharan and Asia-Pacific countries to improve universal access to affordable, reliable, clean, sustainable and modern energy services, particularly by addressing barriers to electricity access.
2016-78	We encourage members to significantly improve energy efficiency based on the specific needs and national circumstances of each member
2016-79	[We encourage members to] promote energy conservation through appropriate lifestyle changes.
2016-80	We will explore innovative collaborative arrangements for international cooperation on energy efficiency.
2016-81	We endorse the G20 Voluntary Collaboration Action Plan on Energy Access, the G20 Voluntary Action Plan on Renewable Energy and the G20 Energy Efficiency Leading Programme issued by the G20 energy ministers and ask them to meet regularly to follow up on the implementation of these plans.
2016-82	We also reaffirm our commitment to rationalize and phase-out inefficient fossil fuel subsidies that encourage wasteful consumption over the medium term, recognizing the need to support the poor.
2016-83	Further, we encourage G20 countries to consider participating in the voluntary peer review process [re: fossil fuel subsidies)
2016-84	Given that natural gas is a less emission-intensive fossil fuel, we will enhance collaboration on solutions that promote natural gas extraction, transportation, and processing in a manner that minimizes environmental impacts.

Robust International Trade and Investment

2016-85	We endorse the outcome of the G20 Trade Ministers Meeting held in Shanghai on 9-10 July
2016-86	We commit to further strengthen G20 trade and investment cooperation.
2016-87	We reaffirm our determination to ensure a rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system with the World Trade Organization playing the central role in today's global trade.
2016-88	We reiterate our commitment to shape the post-Nairobi work with development at its center and commit to advancing negotiations on the remaining DDA issues as a matter of priority, including all three pillars of agriculture (i.e. market access, domestic support and export competition),
2016-89	[We reiterate our commitment to shape the post-Nairobi work with development at its center and commit to advancing negotiations on the remaining DDA issues as a matter of priority, including] non-agricultural market access,
2016-90	[We reiterate our commitment to shape the post-Nairobi work with development at its center and commit to advancing negotiations on the remaining DDA issues as a matter of priority, including] services,
2016-91	[We reiterate our commitment to shape the post-Nairobi work with development at its center and commit to advancing negotiations on the remaining DDA issues as a matter of priority, including] development,
2016-92	[We reiterate our commitment to shape the post-Nairobi work with development at its center and commit to advancing negotiations on the remaining DDA issues as a matter of priority, including] Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) and rules.
2016-93	We will work together with all WTO members with a sense of urgency and solidarity and with a view to achieving positive outcomes of the MC11 and beyond and we will work together to further strengthen the WTO.
2016-94	We commit to ratify the Trade Facilitation Agreement by the end of 2016 and call on other WTO members to do the same.
2016-95	We commit to working to ensure our bilateral and regional trade agreements complement the multilateral trading system, and are open, transparent, inclusive and WTO-consistent.
2016-96	G20 Environmental Goods Agreement (EGA) participants welcome the landing zone achieved in the WTO EGA negotiations, and reaffirm their aim to redouble efforts to bridge remaining gaps and conclude an ambitious, future-oriented EGA that seeks to eliminate tariffs on a broad range of environmental goods by the end of 2016, after finding effective ways to address the core concerns of participants.
2016-97	We extend our commitments to standstill and rollback of protectionist measures till the end of 2018, reaffirm our determination to deliver on them
2016-98	[We] support the work of the WTO, UNCTAD and OECD in monitoring protectionism.
2016-99	We endorse the G20 Strategy for Global Trade Growth, under which the G20 will lead by example to lower trade costs,
2016-100	[We endorse the G20 Strategy for Global Trade Growth, under which the G20 will lead by example to] harness trade and investment policy coherence,
2016-101	[We endorse the G20 Strategy for Global Trade Growth, under which the G20 will lead by example to] boost trade in services,
2016-102	[We endorse the G20 Strategy for Global Trade Growth, under which the G20 will lead by example to] enhance trade finance,
2016-103	[We endorse the G20 Strategy for Global Trade Growth, under which the G20 will lead by example to] promote e-commerce development,
2016-104	[We endorse the G20 Strategy for Global Trade Growth, under which the G20 will lead by example to] and address trade and development.
2016-105	We endorse the G20 Guiding Principles for Global Investment Policymaking, which will help foster an open, transparent and conductive global policy environment for investment.
2016-106	We also support policies that encourage firms of all sizes, in particular women and youth entrepreneurs, women-led firms and SMEs, to take full advantage of global value chains (GVCs), and that encourage greater participation, value addition and upward mobility in GVCs by developing countries, particularly low-income countries (LICs).
2016-107	We commit to enhance communication and cooperation, and take effective steps to address the challenges so as to enhance market function and encourage adjustment.

Inclusive and Interconnected Development

2016-108	We are committed to ensuring the benefits of our growth reach all people and maximize the growth potential of developing and low-income countries.
2016-109	We pledge to enhance policy coherence on sustainable development and reaffirm our commitment to further align our work with the universal implementation of the 2030 Agenda for Sustainable Development based on the comparative advantage and the added value of the G20 and in accordance with our national circumstances, while acknowledging that the global follow-up and review of the 2030 Agenda is a UN-led process.
2016-110	[We pledge to enhance policy coherence on sustainable development and reaffirm our commitment to further align our work with the universal implementation of the] Addis Ababa Action Agenda on financing for development, based on the comparative advantage and the added value of the G20 and in accordance with our national circumstances, while acknowledging that the global follow-up and review of the 2030 Agenda is a UN-led process.
2016-111	We commit to contributing to the implementation of the 2030 Agenda by setting an example through bold, transformative collective and intended national actions in a wide range of areas.
2016-112	By endorsing the G20 Action Plan on the 2030 Agenda for Sustainable Development which also includes high-level principles, we reaffirm our commitment to achieve the ambition of the 2030 Agenda.
2016-113	We will continue our work on addressing cross-border financial flows derived from illicit activities, including deliberate trade misinvoicing, which hampers the mobilization of domestic resources for development,
2016-114	We will fulfill our collective commitment to achieve a successful 18th replenishment of the International Development Association,
2016-115	[We will fulfill our collective commitment to achieve a successful] 14th replenishment of the African Development Fund.
2016-116	We reaffirm our commitment to promote investment with focus on infrastructure in terms of both quantity and quality.
2016-117	We endorse the Global Infrastructure Connectivity Alliance launched this year to enhance the synergy and cooperation among various infrastructure connectivity programs in a holistic way.
2016-118	We endorse the G20/OECD Guidance Note on Diversification of Financial Instruments for Infrastructure and SMEs and we welcome the Annotated Public-Private Partnership (PPP) Risk Allocation Matrices completed by the GIH to help developing countries better assess infrastructure risks.
2016-119	We support the effective implementation of the G20/OECD Principles of Corporate Governance
2016-120	[We support the effective implementation of the] G20/OECD High-level Principles on SME Financing
2016-121	We will work to ensure the benefits from economic growth, globalization and technological innovation are widely shared, creating more and better jobs, reducing inequalities and promoting inclusive labor force participation.
2016-122	We endorse the strategies, action plans and initiatives developed by G20 labor and employment ministers to enhance the growth and development agenda by taking effective actions to address changes in skill needs, support entrepreneurship and employability, foster decent work, ensure safer workplaces including within global supply chains and strengthen social protection systems.
2016-123	We endorse Sustainable Wage Policy Principles.
2016-124	We also endorse the G20 Initiative to Promote Quality Apprenticeship with policy priorities of increasing the quantity, quality and diversity of apprenticeships.
2016-125	We will further develop the G20 employment plans in 2017 to address these commitments and monitor progress in a systemic and transparent manner in achieving the G20 goals especially on youth employment and female labor participation.
2016-126	The G20 will continue to prioritize its work on food security, nutrition, sustainable agricultural growth and rural development as a significant contribution to implementing the 2030 Agenda for Sustainable Development.
2016-127	We endorse the outcome of the G20 Agriculture Ministers Meeting and encourage our agriculture ministers to meet regularly to jointly facilitate sustainable agricultural development and food value chains, including through technological, institutional and social innovation, trade and responsible investment, as a means of food security, rural development and poverty alleviation.
2016-128	We support increasing efforts in this regard by the agricultural scientific and private sectors and welcome the opening of the First G20 Agricultural Entrepreneurs Forum.

Further Significant Global Challenges Affecting the World Economy

2016-129	We reiterate our commitment to sustainable development and strong and effective support and actions to address climate change.
2016-130	We commit to complete our respective domestic procedures in order to join the Paris Agreement as soon as our national procedures allow.
2016-131	We support the international efforts to respond to the ongoing [refugee] crisis and note the upcoming high-level meetings which will take place during the UN General Assembly.
2016-132	The G20 will continue to address forced displacement in 2017 with a view to developing concrete actions.
2016-133	The G20 will also examine migration issues in 2017.
2016-134	We reaffirm our solidarity and resolve in the fight against terrorism in all its forms and wherever it occurs.
2016-135	We will tackle all sources, techniques and channels of terrorist financing, including extortion, taxation, smuggling of natural resources, bank looting, looting of cultural property, external donation, and kidnapping for ransom.
2016-136	In confronting terrorism, we remain committed to effectively exchanging information, freezing terrorist assets, and criminalizing terrorist financing.
2016-137	We affirm the need to explore in an inclusive manner to fight antimicrobial resistance by developing evidence-based ways to prevent and mitigate resistance, and unlock research and development into new and existing antimicrobials from a G20 value-added perspective, and call on the WHO, FAO, OIE and OECD to collectively report back in 2017 on options to address this including the economic aspects.
2016-138	In this context, we will promote prudent use of antibiotics and take into consideration huge challenges of affordability and access of antimicrobials and their impact on public health.
2016-139	We strongly support the work of the WHO, FAO and the OIE and look forward to a successful high-level meeting on AMR during the UN General Assembly.

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G20 Blueprint on Innovative Growth (51)

2016-140	We are committed to using all available policy tools fiscal, monetary and structural to foster confidence and strengthen growth.
2016-141	We resolve to raise mid-to-long term growth potential through a commitment to innovative growth.

Our Overall Approach

2016-142	We will demonstrate leadership and partnership, vision and ambition, and enhance the cooperation among members as well as between the public and private sectors, to advance innovative growth and address common challenges.
2016-143	In line with relevant existing multilateral treaties and agreements to which we are parties, including the TRIPs Agreement, we reaffirm the importance of adequate and effective intellectual property protection and enforcement for innovation, and support greater openness and the promotion of voluntary knowledge diffusion and technology transfer on mutually agreed terms and conditions.
2016-144	We encourage the creation of innovation ecosystems that catalyze creativity and support the combination of creative ideas with entrepreneurship, science and technology for innovative growth and job creation.
2016-145	We aspire to synergy in the discussion across work streams within the G20 and with international organizations and initiatives outside the G20.

Innovation

2016-146	We are committed to encouraging the adoption of pro-innovation strategies, policies and measures
2016-147	[We are committed to] supporting investment in STI
2016-148	[We are committed to] creating an online G20 Community of Practice for innovation policy and a 2016 G20 Innovation Report prepared by the OECD,
2016-149	[We are committed to] stimulating close dialogue with innovation partners and stakeholders, while encouraging discussion on open science and finding innovative solutions to global challenges.

New Industrial Revolution

2016-150	We will make best efforts to identify these challenges and opportunities in developed and developing countries to minimize social costs and take full advantage of the opportunities presented by the NIR.
2016-151	We are committed to pursuing further work to strengthen communication and cooperation on the NIR and relevant research,
2016-152	[We are committed to] facilitating ways for SMEs to benefit from the NIR
2016-153	[We are committed to] addressing necessary employment and workforce skills challenges,
2016-154	[We are committed to] enhancing cooperation on standards, deepening exchanges and cooperation on new industrial infrastructure
2016-155	[We are committed to] ensuring intellectual property rights protection in line with relevant existing multilateral treaties and agreements to which we are parties, including the TRIPs Agreement,
2016-156	[We are committed to] supporting industrialization in developing countries.

Digital Economy

2016-157	We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through expanded and affordable broadband access as well as improving quality, promoting the flow of information for economic growth, trust and security, recognizing that freedom of expression and the free flow of information, ideas, and knowledge, are essential for the digital economy and beneficial to development, as reaffirmed in paragraph 4 of the Tunis Commitment of WSIS and that applicable frameworks for privacy and personal data protection, as well as intellectual property rights, have to be respected,
2016-158	[We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through] promoting investment in the ICT sector
2016-159	[We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through] supporting entrepreneurship
2016-160	[We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through] promoting digital transformation
2016-161	[We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through] encouraging e-commerce cooperation
2016-162	[We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through] enhancing digital inclusion
2016-163	[We are committed to unleashing the potential of the digital economy by providing favorable conditions for its development, including including reaffirming the goal of ensuring the next 1.5 billion people are connected and have meaningful access to the Internet by 2020 in accordance with the Connect 2020 agenda, through] promoting policies that support MSMEs to use the ICT technology more effectively.
2016-164	We will offer policy support for an open, and secure ICT environment, including recognizing the key role of adequate and effective protection and enforcement of intellectual property rights to the development of the digital economy, as reaffirmed by paragraph 26 of the G20 Antalya Communique,
2016-165	[We will offer policy support for an open, and secure ICT environment, including] promoting cooperation with respect to independent choice of development path,
2016-166	[We will offer policy support for an open, and secure ICT environment, including] cultivating transparent digital economy policy-making
2016-167	[We will offer policy support for an open, and secure ICT environment, including] supporting the development and use of international standards
2016-168	[We will offer policy support for an open, and secure ICT environment, including] strengthening confidence and trust
2016-169	[We will offer policy support for an open, and secure ICT environment, including] managing radio frequency spectrum to promote innovation.
2016-170	We commit to cooperate and continue to work closely on these matters including through further relevant research and exchange.

Structural Reform

2016-171

We will implement and improve over time the Enhanced Structural Reform Agenda…while noting that the choice and design of structural reforms are consistent with countries' economic conditions.

Enhancing multi-dimensional partnership

2016-172	We are committed to communicating and sharing information on national strategies that promote innovative growth, through dialogues to increase collaborative research as appropriate and working together to address common challenges.
2016-173	We commit to enhance the partnership between public and private sectors as appropriate…while recognizing the importance of the business sector among others in realizing the benefits of innovation and entrepreneurship.
2016-174	[We commit to enhance] the partnership between large companies and MSMEs, while recognizing the importance of the business sector among others in realizing the benefits of innovation and entrepreneurship.
2016-175	We will continue to adopt a comprehensive approach, by taking advantage of different fora and events, to advance cooperation among different work streams and engagement groups in relevant areas, particularly on the issues such as employment… to promote strong, sustainable, balanced and inclusive growth.
2016-176	[We will continue to adopt a comprehensive approach, by taking advantage of different fora and events, to advance cooperation among different work streams and engagement groups in relevant areas, particularly on the issues such as] digital financial inclusion… to promote strong, sustainable, balanced and inclusive growth.
2016-177	[We will continue to adopt a comprehensive approach, by taking advantage of different fora and events, to advance cooperation among different work streams and engagement groups in relevant areas, particularly on the issues such as] development, to promote strong, sustainable, balanced and inclusive growth.

Supporting developing countries

2016-178	We are committed to supporting developing countries to promote inclusive development in their effort to formulate strategies and programs taking advantage of STI, NIR and digital economy.
2016-179	We support the Technology Facilitation Mechanisms of the United Nations in its efforts to promote coordination, coherence, and cooperation on STI-related matters.
2016-180	We support developing countries to share best practices and programs,
2016-181	[We support developing countries to] optimize resource usage to promote sustainable development and social inclusion
2016-182	[We support developing countries to] promote awareness of environment-friendly technologies.

Improving skills and human capital

2016-183	We are committed to improving training and skills for innovation and enhancing policies to facilitate entrepreneurship, innovation and participation in the new industrial revolution and the digital economy.
2016-184	We support policies that encourage the mobility of STI human resources,
2016-185	[We support policies that encourage] efforts to forecast the future demand for new skills
2016-186	[We support policies that encourage] the use [of] a variety of policy measures and technical means to bridge the digital divides and enhance digital inclusion.
2016-187	We commit to explore new methods to facilitate communication, talent exchange and training between developed and developing countries.
2016-188	The role of youth and women in innovation and entrepreneurship for job creation should be highlighted and supported, and we commit to take steps to expand access to quality skills training and education.

Our Way Forward

2016-189	We attach great importance to the implementation of the Blueprint and will monitor progress in this area.
2016-190	We will set up a G20 Task Force supported by the OECD and other relevant IOs to take forward the G20 agenda on innovation, new industrial revolution and digital economy, subject to the priorities of the respective future G20 presidencies, ensuring continuity and consistency with the results so far, and promoting synergies with other G20 work streams.

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Hangzhou Action Plan (23)

A Path to Strong, Sustainable and Balanced Growth

2016-191

We are determined to use all policy tools " monetary, fiscal and structural" individually and collectively to achieve this goal.

Enhanced Structural Reform Agenda

2016-192

We will look for opportunities to continue to improve the G20's enhanced structural reform agenda.

Lifting and Enhancing Infrastructure Investment

2016-193	We support the MDBs to formulate quantitative ambition for high-quality infrastructure projects,
2016-194	[We support the MDBs to] maximize the quality of infrastructure projects
2016-195	[We support the MDBs to] strengthen project pipelines,
2016-196	[We support the MDBs to] and enhance cooperation between existing and new MDBs
2016-197	[We support the MDBs to]….catalyze private resources.
2016-198	We are committed to promoting global infrastructure connectivity and have launched the Global Infrastructure Connectivity Alliance Initiative earlier this year.
2016-199	Based on the G20/OECD Guidance Note on Diversification of Financial Instruments for Infrastructure and SMEs, we will further promote diversified financing instruments on a voluntary basis.

Tax for Growth

2016-200

We are committed to effectively coordinating our tax policies towards a fair and efficient international tax system that will diminish cross-border conflicts and contribute to our broader agenda on strong, sustainable and balanced growth.

Building a Stable and Resilient International Financial Architecture

2016-201	We are committed to taking further actions in strengthening the international financial architecture, which is a key element to foster strong, sustainable and balanced growth, as well as financial stability.
2016-202	We will continue to improve the analysis and monitoring of capital flows and management of risks stemming from excessive capital flow volatility.
2016-203	We support further work regarding the IMF's lending toolkit.
2016-204	We support the ongoing review of the Debt Sustainability Frameworks for low-income countries and call for an enhanced, tailored, coordinated effort on technical assistance to debtor countries.
2016-205	We support the efforts to explore the cost and feasibility of the inclusion of the enhanced contractual clauses in existing stock of sovereign debt, as well as examining and discussing additional measures to smooth the sovereign debt restructuring processes.

Promoting Financial Inclusion

2016-206	Based on the G20 High-level Principles for Digital Financial Inclusion, we will take concrete actions recommended by the Global Partnership for Financial Inclusion (GPFI) and tailored to the specific situation of each country to promote digital financial inclusion, and help low income developing countries (LIDCs) to reach the "last mile" of excluded and underserved groups.
2016-207	We support the first country self-assessment about to take place within the G20 Action Plan on SME Financing Implementation Framework.
2016-208	We support the continued work of the GPFI to implement the G20 Financial Inclusion Action Plan (FIAP) and ask the GPFI to review the FIAP in 2017.

Addressing Global Imbalances

2016-209	[We take note of the progress made in reducing excessive global imbalances since 2009. However, we are concerned that the adjustment process may be losing momentum. We cannot afford to see the gains made since 2009 in this regard disappear.] We will study what further actions we can take to reinvigorate the adjustment process.
2016-210	We will continue to undertake an assessment of members every two years against the "Indicative Guidelines" to identify large and persistent imbalances.
2016-211	We will continue to examine the process of global imbalance including from perspectives other than current account balances.

Building a more Prosperous Future

2016-212	As demonstrated in this plan, we reconfirm our determination to use all policy tools monetary, fiscal and structural individually and collectively to achieve our goal of strong, sustainable and balanced growth.
2016-213	We will continue to hold ourselves collectively accountable for our commitments by demonstrating progress on their implementation.

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This page was last updated August 15, 2024 .