The third G20 Finance Ministers and Central Bank Governors Meeting begins Saturday in Sichuan provincial capital, Chengdu. Economic leaders gather to discuss new formulas for global economic growth during the two-day meeting at a time when the global recovery still remains fragile.

The International Monetary Fund on Tuesday has just lowered its global growth outlook for this year to 3.1 percent. That's the IMF's fifth cut in 15 months. The World Bank also lowered the number to 2.4 percent against the previous 2.9 percent in a report released in June. Chinese Vice-Minister of Finance Zhu Guangyao also said in June that the global economy still faces huge pressures due to the imbalanced slow growth recovery and newly-emerged uncertainties.