China working on growth initiative for economy summit

BEIJING, China – Chinese officials say Beijing will propose a joint initiative to boost global growth at next month’s meeting of Group of 20 major economies amid rising protectionist sentiment in the United States and Europe.

Finance and foreign affairs officials said Monday the initiative will call for spreading the benefits of economic development, which might shore up political support for free trade.

The Sept. 4-5 meeting in the eastern Chinese city of Hangzhou comes amid an unusually weak global economic recovery and growing popularity of U.S. and European politicians who advocate protection for local industries.

At a news conference, the Chinese officials said Beijing’s G20 initiative will include proposals to strengthen the global financial system and promote technological innovation.