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Chinese President: G20 members should strengthen cooperation to boost world economy


15:49, November 02, 2011

BEIJING, Nov. 2 (Xinhua) -- Chinese President Hu Jintao said Wednesday that G20 members should strengthen cooperation to promote the notable, sustainable, and balanced growth of the world economy.

Hu made the remarks in a written interview with French daily newspaper Le Figaro ahead of his attendance at the G20 summit scheduled for Nov. 3-4 in Cannes, France.

In regards to the current global economic and financial situation as well as China's expectations for the G20 summit, Hu said that the recovery rate of the world economy has slowed and unstable factors have apparently increased.

Hu noted that major economies' growth rates also tumbled when some developed countries were confronted with sovereign debt problems.

He also pointed out the turmoil of the global financial market and fiercer trade and investment protectionism.

In light of these factors, Hu asked G20 members to promote cooperation in order to boost the notable, sustainable, and balanced growth of the world economy.

As for the upcoming G20 summit in Cannes, the president highlighted three tasks for the member states in achieving these goals.

Hu first called on member states to make joint efforts to strengthen macro-economic policy coordination and collaboratively cope with severe challenges facing the world economy.

Member states should consolidate the hard-won achievements of economic recovery and shore up market confidence.

Secondly, the president urged G20 countries to focus on significant and urgent challenges facing global economics and finance.

He said the summit should properly cope with sovereign debt and the high impact of large-volume commodities prices.

He also asked for boosting the reform of the international monetary and financial system, opposing trade and investment protectionism, and motivating multilateral free-trade talks.

Finally, the president urged member states to focus on imbalanced North/South development.

Hu asked member states to objectively recognize and properly treat the positive contributions to world economic recovery and growth made by emerging markets and developing countries.

The G20 should value the rational concerns of these countries and increase their representation and voice, Hu said, calling on the summit to explore a sound external environment for their sustainable development.

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