Full coverage: G20 Hangzhou Summit

During this year's summit, the leaders are going to discuss “Innovative, Invigorated, Interconnected, and Inclusive” ways toward economic development -- the theme of this year’s summit. CCTV reporter Yang Zhao joined us in the Beijing studio to talk about why g20 members has selected this theme and how can we interpret these four words.

Well we can view these four key words as the direction of the world economy that G20 members want it to be heading in. But they can also be interpreted as the problems that we are facing, as the global economy is lacking lustre when it comes to innovation, invigoration, interconnectivity and inclusiveness.

The world economy is more or less coming out of the financial crisis but the recovery process has been slow. Annual growth in terms of world trade has slowed from 7% in 2008, to 3% so far in 2015.

The US is probably the only advanced G20 nation that can claim to have had a decent economic recovery, with annual GDP growth between 2-3% and unemployment down to 5%. The Eurozone has been bogged down in debt problems.

Emerging markets feel no better. Their economic woes are mounting as commodity prices have been tumbling.

So the circumstances make it hard to claim that the world economy has been invigorated, and this explains why the G20 is calling on innovation to be the catalyst for new growth. 

Also, the G20 calls for more interconnectivity and inclusivity. This comes in the wake of rising protectionism and a stagnated reform process of global governance.

The WTO reported that G20 markets imposed a record 145 new trade-restrictive measures in the seven-month period ­– the most since 2009. 

Meanwhile, global governance can no longer be dominated by advanced economies, but must include more developing countries.

You will find more names on the guest list than ever when compared to previous summits. The chair of the ASEAN Community, Laos will be present, alongside Chad, the current African Union Chair.