BRICS, G20 boost quick global economy recovery

The activities and speeches of Chinese President Xi Jinping have attracted the attention of international communities. China's active economic restructuring is correct and necessary, making a major contribution to world economy growth. To strengthen cooperation with China can generate quick and sustaining global economy recovery.

Chinese President Xi Jinping's speech at the BRICS leaders' meeting on the sidelines of a G20 Summit and his meeting with his Russian counterpart Vladimir Putin have been followed by the Russian media.

According to Sputniknews, the declaration after the BRICS leaders' meeting in Turkey emphasizes BRICS countries' strong will to further promote the quick and sustaining global economy recovery and cooperate to lower potential risk with other G20 members. Although China's economic growth slowed in the latest quarter to a six-year low of 6.9%, its future is positive, said the Russian media.

China's economic slowdown has affected some sectors of Russian economy, but China would avoid a hard landing, said Elvira Nabiullina, Governor of the Russian Central Bank, during a session of the State Duma.

Putin voiced support for China in playing a greater role in boosting international economic and financial cooperation as the next chair of the G20 when the two leaders met on G20 sidelines.

Russia expected to continue its campaign to IMF reform and increase the role of emerging economies, said Russian G20 Sherpa Svetlana Lukash. "We hope the gridlock can come to an end when China holds the rotating presidency of the G20 next year," she added.

The Australian, the major newspaper in Australia, highlighted Australia's Prime Minister Malcolm Turnbull's meeting with Chinese President Xi Jinping. The two leaders have reached consensus on striving for the new bilateral trade target of 160 billion Australian dollars, cashing in on the China-Australia FTA.

Turnbull told local media that he has a strong will to forge closer and stronger ties and strengthen comprehensive strategic partnership. Now, as the Australian Senate has passes legislations surrounding the China-Australia FTA, he hoped the FTA could be carried out as soon as possible. He also applauded the significant role of AIIB, which, in his opinion, could give new impetus to the entire regional economy. His experience in investing in Chinese mining sector generated his view that China's active economic restructuring was correct and necessary.

President Xi Jinping met with President Joko Widodo of Indonesia on the sidelines of the G20 Summit again. "The meeting indicates the comprehensive strategic partnership between the two countries has involved deeper cooperation. The strengthened cooperation between the two developing nations, guiding the direction of South-South cooperation, not only has great significance in global fair trade and economic growth, but also will contribute to the regional wellbeing and even that of the world at large. " said Indonesian ambassador to China Soegeng Rahardjo excitedly.

President Joko Widodo was very grateful to investment and financing from China, which was a boost to economic growth. As one of the AIIB's founding members, Indonesia has welcomed loans from the China-led bank and other public or private direct investment channels to finance big-ticket infrastructure projects and manufacturing industry, said Bambang Brodjonegoro, the Indonesian Minister of Finance during a telephone interview.