Full coverage: G20 Hangzhou Summit

The third G20 Finance Ministers and Central Bank Governors Meeting has begun in southwest China's Chengdu.

Financial officials from the world’s major economies are gathering to consider new formulas for growth. Topics such as the challenges and risks facing the global economy, structural reforms, and financial sector reforms are on the agenda.

This is the last meeting for the finance ministers and central bankers before the G20 Summit in east China's Hangzhou in September. China's finance minister Lou Jiwei spoke at the start of the meeting.

"G20 economies should increase policy communication and coordination, form policy consensus and guide market expectations, making monetary policy more forward-looking and transparent, and increase the effectiveness of fiscal policy. The economies should also support structural reforms in key areas, promoting global economic recovery," he saod.