China has set an ambitious agenda for the G20 Summit, which has the theme of "Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy".

The summit is focusing on some of the most salient, critical and pressing issues facing the world economy, and exploring new ways to enhance policy coordination, innovate the growth model and promote more efficient global economic and financial governance.

The summit is set to promote more effective global economic and financial governance, as, based on the implementation of the 2010 quota and governance reform of the International Monetary Fund, the G20 members are working on the next round of quota reform with the aim of realizing it before the annual meeting of the IMF in 2017.

The summit is also set to revitalize support for trade and investment liberalization and facilitation. It will call for meaningful progress in the Doha round of WTO negotiations and commitments to roll back on protectionist measures, in order to take full advantage of trade and investment as two effective engines for world economic growth.

China will offer its experiences, wisdom and solutions to achieve strong, balanced, sustainable and inclusive growth. And the G20 Action Plan on the United Nation's 2030 Agenda for Sustainable Development and the G20 Initiative on Supporting Industrialization in Africa and Least Developed Countries will be issued, demonstrating a firm commitment to ensuring that developing countries are not left behind in future development.

The summit is also set to embrace the vision of a global community with a shared destiny, enhance economic connectivity and exchanges among countries so as to address inequality and imbalance in global development, and ensure that the benefits of global development are more equitably shared by people of all countries.

As the G20 Summit with the largest participation of the developing world, the Hangzhou Summit is anticipated to show to the world that global cooperation can make a difference and that countries can work together to build a community of shared interests, shared responsibilities and shared prosperity. And that is what it is expected to deliver.

The author is a Beijing-based observer of international studies.