China urged the world's major economies to increase trade openness in order to revive the global economy, as world leaders reached a consensus on further countering protectionism in a last-minute deal during the G20 Summit on Wednesday.

In the final communique of the summit, which was held in the Mexican resort city of Los Cabos, leaders pledged not to put up new trade barriers until late 2014, extending their previous pledge by a year, in a move to boost global growth.

At last year's summit, which was held in France, G20 members had vowed to oppose trade protectionism.