Chinese president puts forward growth proposal at APEC summit

10:08, November 14, 2010      

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Chinese President Hu Jintao addresses the APEC CEO Summit in Yokohama, Japan, Nov.13, 2010. (Xinhua/Lan Hongguang)

Chinese President Hu Jintao put forward a five-point proposal on Saturday to promote sound and fast economic growth in the Asia-Pacific region.

Hu made the proposal at the 18th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum, which opened here Saturday afternoon.

Firstly, Hu asked the APEC economies to "promote balanced growth to create conditions for long-term economic development," saying they should seek balanced growth both within a member economy and among all member economies.

"We should increase input to help developing members achieve their full potential and narrow the North-South gap," Hu said.

He called on APEC members to move toward a more rational division of labor, a more balanced financial and trade structure, more efficient allocation of resources and more equitable sharing of benefits.

Efforts by APEC members in this aspect "will contribute to balanced and coordinated global economic growth," he said.

Secondly, President Hu said the APEC members should "advocate inclusive growth to boost the internal dynamism of economic development."

He called on all members to focus on economic development, uphold social equity and justice and adhere to the people-first principle so that all countries, regions and groups could benefit from economic globalization and development.

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