China will play host to the Group of Twenty (G20) Summit in 2016, the 20-member group said on Sunday.

Chinese President Xi Jinping said during Sunday's summit that China is confident to fulfill its role as the chair of the 2016 G20 summit and a member of the three-member management troika of the year 2015 and 2017.

Unlike some other international organizations, the G20 has no permanent staff of its own. The G20 chair rotates between members, and is selected from a different regional grouping of countries each year.

The chair is part of a revolving three-member management troika of past, present and future chairs. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's operations and organizes its meetings.

The role of the troika is to ensure continuity in the G20's work and management across host years.