Premier Wen stresses confidence, responsibility, cooperation in tackling downturn

Chinese Premier Wen Jiabao said Sunday the government had stressed confidence, responsibility and cooperation in dealing with the effects of the global economic crisis.


Chinese Premier Wen Jiabao (L) smiles during an exclusive interview with Xinhua News Agency at Ziguangge building inside Zhongnanhai, an office compound of the Chinese central authorities at the heart of Beijing, capital of China, Dec. 27, 2009. (Xinhua/Yao Dawei)
"Since the very beginning of the economic crisis, we have felt no country could evade the grave impact of crisis or solve it alone," Wen said in an exclusive interview with Xinhua.

"(The international community) must strengthen cooperation to deal with it together."

Referring back to his speech to the United Nations in New York in September last year, Wen said confidence was more economically important than gold or any currency.

"As a big developing country, China must run its own affairs well and leave no trouble for others," he said. "We acted as promised.

"We have participated actively in the international exchanges and cooperation to overcome the crisis," he said.

"As well as signaling our confidence, we decided to send delegations on buying mission to Europe in the hardest time early this year," Wen said.

China continued to expand currency exchanges with other economies and carried out the Chiang Mai Initiative to establish a foreign exchange reserve pool of Asian countries. It also began RMB settlement trials.

"All actions are conducive for the international community to work together to tackle the crisis," he said.

China announced in December last year it would start allowing RMB settlement of international accounts on a trial basis.

The government announced this month it would increase the number of pilot cities carrying out yuan settlements in foreign trade from the current five -- Shanghai, Zhuhai, Guangzhou, Shenzhen and Dongguan -- to help export companies avoid foreign exchange rate fluctuations.

Source: Xinhua