CRI听力:G20 Finance Officials Meet in Australia

Finance ministers and central bank governors of the world's 20 biggest developing and advanced economies, the G20, will discuss what changes can be made to fiscal and monetary policies, and what structural reforms are needed, to accelerate economic growth.

Australian treasurer Joe Hockey has held a joint press conference with US Secretary of the Treasury Jack Lew.

Hockey introduced the main focuses of the meetings: economic growth, jobs, private sectors and investment.

"Ultimately, we are focused on economic growth and jobs. That is going to deliver the prosperity of the world's needs and world's desires. And that growth will essentially come from the private sectors. So the government everywhere is to facilitate private sector during investment."

Experts predicted that this weekend's discussions may be overshadowed by emerging market concerns over U.S. monetary policy, since the U.S Federal Reserve tapered quantitative easing, causing currency losses in many emerging markets.

Secretary General of the Organization for Economic Co-operation and Development (OECD) Angel Gurria today expressed his opinion on the US policy.

"The question really is, is tapering the one that caused the turbulence. This was announced in May and June. It caused turbulence then. Right now, it was much better plan, better communicated. People know this was happening. Who are the ones who suffering the most? The one has high current account deficits, and the ones who still have reforms on their homework. It's a signal. It's a wakeup call. Accelerate reforms. "

But many emerging market nations may focus on whether some responsibilities will be taken or whether there will be some agreements that will minimize the negative impact from the U.S. measures. The final communiqué may address the issue.

Chinese Finance Minister Lou Jiwei and Governor of People's Bank of China Zhou Xiaochuan will deliver keynotes during the meeting.

For CRI, I'm Wang Xiao from Sydney.