The 17th G20 Summit ended in Bali, Indonesia, on the 16th, and the Summit adopted the Declaration of the G20 Bali Summit. The Declaration emphasized that as a large global economy, G20 members recognized the need to promote world economic recovery, address global challenges and lay the foundation for strong, sustainable, balanced and inclusive growth by assuming collective responsibility and taking cooperative initiatives. The declaration points out that the current multiple global crises overlap, the world economy has experienced the damage caused by the COVID-19, and other challenges such as climate change have led to economic decline, increased poverty, slowed global recovery and hindered the achievement of sustainable development goals. The declaration said that at this critical moment in the global economy, it is crucial for the G20 to take practical, accurate, rapid and necessary actions. We should use all available policy tools, including international macro policy cooperation and practical collaboration, to address common challenges. To this end, the G20 will continue to commit to supporting developing countries, especially the least developed countries and small island developing States, to help them meet global challenges and achieve sustainable development goals. Based on the theme of "common recovery, strong recovery" proposed by Indonesia, the presidency, all countries will take coordinated action to promote a strong, inclusive and resilient global recovery and the sustainable development agenda of job creation and growth. Indonesian President Joko said at the closing press conference that the summit discussed the serious challenges facing the current international economy and all parties agreed to take concrete actions to address them. He reiterated that the G20 should focus on economic and development issues and should not be politicized. At the closing meeting of the Summit, India officially took over as the new rotating presidency of the G20. Indian Prime Minister Modi said that in the coming year, India will assume the rotating presidency with an inclusive, resolute and progressive attitude to ensure that all members accelerate the implementation of the collective consensus. The next G20 Summit will be held in New Delhi, the capital of India, in September 2023. (Liu Xinshe)