Hu promotes concerted efforts for global economic growth at G-20 summit

10:03, November 13, 2010      

Email | Print | Subscribe | Comments | Forum 


Chinese President Hu Jintao attends the inauguration of the Group of 20 (G20) Summit in Seoul, capital of South Korea, Nov. 12, 2010. (Xinhua/Lan Hongguang)

Chinese President Hu Jintao called for concerted efforts to realize strong, sustainable and balanced growth of the world economy at the Group of 20 (G-20) summit on Friday.

Delivering a speech entitled "Build on Achievements and Promote Development" at the summit, he presented a four-point proposal for the major economies to jointly promote global economic recovery and growth.

FOUR-POINT PROPOSAL FOR GLOBAL ECONOMIC GROWTH

Hu said the world economy was slowly recovering thanks to the concerted efforts of the G-20 and the entire international community, but total demand remained insufficient in the absence of new sources of growth

"Countries differ in policy objectives, making macroeconomic policy coordination even more difficult and global recovery even more fragile and uneven," he said.

The Chinese leader had been promoting cooperation and coordination since he arrived in Seoul for the summit on Thursday morning.

"We must adopt an attitude responsible to history and the future, bear in mind the common interests of mankind, build on what we have already achieved and continue to work in concert for strong, sustainable and balanced growth of the world economy," Hu said.

The first point of Hu's proposal at the summit was that the world community should improve the framework for strong, sustainable and balanced growth and promote cooperative development.

"Strong, sustainable and balanced economic growth is of great significance to the whole world," he said.

"We should stick to the country-led principle, take into full account the different national circumstances and development stages of various members, and appreciate and respect each country's independent choice of development path and policies," he added.

The second point was that the world community should champion open trade and promote coordinated development.

"We must be firmly committed to free trade, to the consensus reached at previous G-20 summits, and to the effort of opposing all forms of protectionism and removing existing trade protectionist measures," he said.

The Chinese president also called on the world community to reform the financial system and promote stable development.

"We should continue to push for fair and merit-based selection of the management of international financial institutions, and enable more people from developing countries to take up mid-level and senior management positions," he said.

The last point of Hu's proposal was that the world community should narrow the development gap and promote balanced [email protected] "We must endeavor to build a new and more equal and balanced global partnership and encourage developed and developing countries to have more mutual understanding and closer coordination rather than follow the old path of trading accusations and public confrontation," he said.


【1】 【2】

(Editor:赵晨雁)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion