Full coverage: G20 Hangzhou Summit

MM : We're reporting from the CCTVNEWS studio in Hangzhou, and this is our special coverage of the G20 Summit. I'm Wang Mangmang.

Mike: And I'm Mike Walter. Here we are by West Lake. Probably most famous for its picturesque landscapes, but the lake is also rich in folklore, and it has inspired even the most creative down through the centuries.

MM: That's right, Mike. Many people don't know this, but Hangzhou was the capital of six dynasties in ancient China. But now it fuses its legendary charm with a new modern energy. You came all the way from Washington DC. Share with us your impressions of the city. What was the first thing that came to mind?

Mike:The tea is very nice.

MM: Absolutely, tea is such an integral part of the local culture here and silk too, of course. You'll probably go back to the States with a sack of it after your time here in Hangzhou.

Mike: Well, speaking of why I'm here, the summit is only a week away now of course. Final preparations are being made to an event which many hope will revive this sluggish global economy we're seeing at the moment.

MM: Exactly. China has invited not only the heads of state of the G20 member countries, and leaders from some guest countries, but also executives of top international organizations.

Mike: We have 11 correspondents in Hangzhou. So starting from today until September 6, we'll bring you all the latest news, views and happenings from the host city.

MM: This high profile gathering will certainly require sophisticated planning and coordination. And the host city has put a lot of efforts into it. We spoke to our reporter XZM earlier to take a look at some final touches.

MM: So how about the people in Hangzhou? Are they ready for this event? To get some more perspectives, let's talk to Tim Clancy. He's a green ambassador for green commuting. Tim, you've been in Hangzhou for five years now. What are your impressions of the city?

Mike: Zhejiang Province has honored you as an eco-ambassador for green commuting. Can you tell us about your daily commute? And what are your impressions of green commuting in the city of Hangzhou and in Zhejiang province as a whole?

Mike: The 2014 G20 Summit was held in Brisbane, Australia, which is your home country. How do these cities compare when you think about staging an event like the G20 Summit?

MM: G20 is a premier forum for global economic governance. Well, that seems to be a very broad concept. So what do you need to know about it? And why does it matter to all of us? Here's a quick brief.

Mike: The leaders gathered in Hangzhou will be concentrating at four key concepts in a bid to further develop the G20 community as well as get the global economy back on track.

The city of Hangzhou has put a lot of work into preparing for this G20 Summit. We spoke to our reporter Xing Zheming earlier to see how preparations are going.

And has the people in Hangzhou been ready for the summit? We're joined the studio by Tim Clancy, who is the ambassador for green commuting.

1. (Wang Mangmang)Tim, you've been in Hangzhou for five years now. What are your impressions of the city?

2. (Mike) Zhejiang Province has honored your as an eco-ambassador for green commuting. Can you tell us about your daily commute? And what are your impressions of green commuting in the city of Hangzhou and in Zhejiang province as a whole?

3. (Mike)The 2014 G20 Summit was held in Brisbane, Australia, which is your home country. How do these cities compare when you think about staging an event like the G20 Summit?

Only one week to go until the top leaders of the world's largest economies gather for this year's G20 Summit in Hangzhou, capital of east China's Zhejiang Province. But how much do you know about the forum? Here's a quick brief... (take pkg)

The G20, or the Group of Twenty, is an international forum for the governments from 20 major world economies.

It was created in 1999 after the Asian financial crisis, as finance ministers and central bank governors believed it was time to work together to maintain world financial stability.

The 2008 global financial crisis revealed the shortcomings.

So, the leaders of the 20 economies gathered for the first time in 2008 to try to find a way out.

The high-profile get-together helped boost consumer and business confidence and supported the first stages of economic recovery.

G20 leaders continued to meet semi-annually, and since 2011, have met annually. They continue to focus on measures to support global economic growth, with a strong emphasis on promoting job creation and open trade.

The members include 19 individual countries, along with the European Union. Together they account for around 85 percent of the gross world product, 80 percent of world trade, and two-thirds of the world population.

Today, the global economy has entered another crucial juncture. Can we strengthen the foundation for global recovery and growth? Can we take advantage of technological breakthroughs and usher in a new round of global growth? Those are the issues the summit will address.

Only one week to go until the top leaders of the world's largest economies gather for this year's G20 Summit in Hangzhou, capital of east China's Zhejiang Province. But how much do you know about the forum? Here's a quick brief... (take pkg)

This year’s G20 Hangzhou summit has an interesting theme based on four pillars, or in this case, four words that start with the letter “I”.

The first is “innovative”, such as science & technology development. It also refers to concepts like business models, the new ways to stimulate growth in the world economy.

The second “I” is “invigorated”. World leaders will look into re-vitalize and re-energize markets around the globe at a time of transformation and challenges.

That brings us to the third “I”: “interconnected”.

The G20 Summit is a stage for international economic cooperation.

For example: the belt and road initiative to drive Chinese investment.

It demonstrate how cooperation can bring new economic vitality.

The fourth “I” is “inclusive”.

It refers to the benefits of revitalized economy to be shared by all.

“Inclusive” is meant to narrow economic gaps and focusing on interconnected development.

If leaders can come together on all four these “I”s, then results may just be what you and “I” need.