11th summit of G20

2016-g20-hangzhou-summit

Question: The 11th summit of G20 held on 4–5 September 2016 in which of the following city?
(a) Seoul
(b) Brisbane
(c) Hangzhou
(d) London
Ans: (c)
Related facts:

  • The 2016 G20 Hangzhou summit was the eleventh meeting of the Group of Twenty (G20).
  • It was held on 4–5 September 2016 in the city of Hangzhou, Zhejiang, China.
  • It was the first ever G20 summit to be hosted in China.
  • The chair of the summit was Xi Jinping, President of China.
  • The summit was attended by all the leaders of the G20 including Prime Minister Narendra Modi.
  • NITI Aayog Vice-Chairman Arvind Panagariya was the Sherpa for 2016 G20 Summit.
  • The guest invitees in the summit were: Egypt, Kazakhstan, Laos, Senegal, Spain, Singapore and Thailand.
  • In the summit Prime Minister Narendra Modi appealed G20 leaders to act decisively to eliminate safe havens for economic offenders, unconditionally extradite money launderers and end excessive banking secrecy.
  • He also spoke about India’s support to a trade facilitation agreement (TFA) for services, a move that will help in movement of professionals.
  • The PM also stressed the need for safeguarding climate justice, which requires affordable financing and environmental sound technology for developing countries.
  • The members G20 includes 19 individual countries.
  • These are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States—along with the European Union (EU).
  • The EU is represented by the European Commission and by the European Central Bank. Collectively, the G20 economies account for around 85% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), and two-thirds of the world population.
  • It was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.
  • The G20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008 in U.S.A.
  • The group also hosts separate meetings of finance ministers and central bank governors.
  • The heads of the G20 nations met semi-annually at G20 summits between 2009 and 2010. Since the November 2011 Cannes summit, all G20 summits have been held annually.
  • The 2017 G20 Summit will be held in Hamburg, Germany.

Reference:
http://www.g20.org/English/aboutg20/AboutG20/201511/t20151127_1609.html
http://www.business-standard.com/article/economy-policy/pm-leads-fight-against-safe-havens-at-g20-116090501018_1.html
http://news.bbc.co.uk/2/hi/business/8072894.stm