Full coverage: G20 Hangzhou Summit

The two-day G20 Finance Ministers Meeting in Chengdu has come to an end and Chinese Finance Minister Lou Jiwei said afterwards that the G20 members will use all available policy tools to improve growth in the global economy. 

Fragile and weaker-than-expected recovery -- that's the assessment of the Group of 20 economies on the global economy.

Falling commodity prices, low inflation and other risks are haunting the chances of future growth. But the officials vowed to use every instrument at their disposal to change the world's fortunes.

"We are taking active action to foster confidence and support growth. We reiterate our determination to use all policy tools -- monetary, fiscal and structural.... individually and collectively -- to achieve our goal of strong, sustainable, balanced and inclusive growth," said Lou Jiwei, Chinese Finance Minister.

The ministers agreed there was a clear need for structural reform. They identified nine priority areas, and agreed to use a series of indicators to monitor the whole process, including more open trade and a flexible labor market.

"We are committed to implementing and improving the Enhanced structural reform agenda, and making further progress towards our growth strategies," Lou said.

It was the first gathering of the G20 finance arm since last month's Brexit vote, and the new reality has made officials demand close relations with the UK.

"I discussed with my counterparts in the EU and the UK, we need the negotiation to take place in a smooth, pragmatic and transparent manner. And a highly integrated UK and EU is in the best interests of Europe, the US and the world," said Jack Lew, US Treasury Secretary.

The policy recommendations of the G20 finance ministers and central bank governors will be up for discussion at the leaders' summit in Hangzhou in September.

But with a strong consensus among the world's finance leaders, they will at least all tackle the issue of global economic growth together.