22 July 2016
Media Release - #2016062, 2016

July G20 Finance Ministers and Central Bank Governors Meeting – Chengdu

Today I will be travelling to Chengdu, Sichuan Province, to attend the third and final G20 Finance Ministers and Central Bank Governors Meeting that China will host this year.

I will be meeting with my counterparts to review progress we have made this year in responding to the challenges currently facing the global economy, ahead of the September Leaders' Summit. This will be crucial given the ongoing global economic uncertainty and financial market volatility.

This is why Australia strongly supports China's efforts this year to build an innovative, invigorated, interconnected and inclusive world economy. G20 members are making headway in their reforms to lift growth, but more needs to be done.

Making progress on improving international tax rules will also be a key focus for the meeting in Chengdu.

I am pleased to be attending the High-Level Tax Symposium, organised by China, Germany and the OECD, on Tax Policy Opportunities for Strong, Sustainable and Balanced Growth. I will share Australia's experience in implementing tax policies which drive innovation and promote growth.

It will also be an opportunity to highlight the Government's national economic plan – one that includes support for businesses to invest and preserves Australia as an attractive place to do business. I will also outline the Government's tax reforms under the National Innovation and Science Agenda.

In an increasingly connected global economy, strong bilateral relationships with key economic partners continue to be important. In addition to the G20 meeting and the Tax Symposium, I will hold a number of bilateral meetings with Finance Ministers and Central Bank Governors, representing countries and regions of economic significance to Australia – including the UK, the EU, Japan, Korea, Singapore, Italy and Mexico.

I look forward to representing Australia and highlighting Australia's strong economic record with my counterparts.