On October 7th, 2005, Foreign Ministry Spokesperson Kong Quan announced: The 7th G-20 Finance Ministers and Central Bank Governors Meeting will be held in China from October 15th to 16th. Chinese President Hu Jintao will attend the opening ceremony and deliver an important speech.

G-20 was founded in 1999 and its member states include China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, European Union and two ex-officio members, International Monetary Fund and World Bank. G-20 have held 6 rounds of ministerial-level meeting up to now. It is the first time for China to hold the meeting as a chair. The theme of the meeting is "Global Cooperation: Promoting Balanced and Orderly World Economic Development".