Full coverage: G20 Hangzhou Summit

China’s Foreign Minister Wang Yi has outlined some of the progress made ahead of the forthcoming G20 summit in Hangzhou, in eastern China’s Zhejiang province.

Wang said a series of ministerial meetings have taken place to prepare for the summit and to deal with the current economic situation.

He said China hosting the G20 meeting comes during an important transitional period for the global economy, which presents both opportunities and challenges. Hopes are high that G20 members will use the meeting to tackle economic problems with renewed energy.

When asked about U.S. president Barack Obama attending the summit, Wang said China maintains a close relationship with the U.S. through the G20 mechanism and he believes the visit will send positive signal to the world about bilateral ties.

“We believe that a stable relationship between China and the US, not only serves the shared interests of both countries but also meets the expectations of the international community,” Wang said.

“The meeting between Chinese President Xi and U.S. president Obama at the G20 summit in Hangzhou, will surely help deepen mutually beneficial cooperation and send a positive signal to other countries.

“We believe that the incumbent and the next president of the United States will uphold a positive and pragmatic policy toward China, continue to deepen cooperation and constructively handle disputes and sensitive issues.

“This way, we believe China-U.S. relations will continue to evolve in a positive way and will contribute to the development of our two countries and to the wider world.”