China sees positive results at G20 Seoul summit

21:32, November 12, 2010      

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The Group of 20 (G20) summit that ended here Friday has achieved positive results with concerted efforts from all participating nations, Chinese delegation spokesman Ma Zhaoxu said.

Ma said that the world economy is gradually recovering, but uncertainties still remain, and that the Seoul summit witnessed the framework of G20 shifting its focus from emergency response to long-term economic governance.

Firstly, all member countries vowed to strengthen the role of the G20, and properly deal with the new risks and new challenges in the international financial sector so as to jointly boost the positive, sustainable and balanced growth of the global economy, Ma said.

Secondly, G20 leaders agreed to further promote reform of international financial institutions, and confirmed the 6-percent shift of quota shares to emerging economies in the International Monetary Fund (IMF), he said.

Thirdly, G20 leaders for the first time listed the issue of development as a major topic, and the summit endorsed the Multi-year Action Plan on Development over the medium term, Ma said.

And fourthly, based on the achievements made in previous summits, G20 leaders pledged continuous efforts to intensify financial regulation and combat trade-protectionism, and put forward a series of new measures and steps which will be conducive to the long-term healthy and steady development of the world economy, he said.

The spokesman also summarized Chinese President Hu Jintao's remarks made during the two-day summit.

Ma said President Hu called on G20 members to "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."

The Chinese president said that promotion of development is a common responsibility of the G20 members, and that a new type of more equal and more balanced global partnership should be established, according to Ma.

"We should support the IMF in its effort to strengthen the monitoring and early warning of capital flows... and address the systemic and fundamental problems in the international financial system," Ma quoted President Hu as saying.

Hu left here Friday for Japan to attend the 18th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC), which is slated for Saturday and Sunday in Yokohama.

Source: Xinhua


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