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China hopes G20 summit boosts economic growth, stability: deputy FM


15:33, June 14, 2012

BEIJING, June 11 (Xinhua) -- China's deputy foreign minister on Monday expressed hopes that the upcoming Group of 20 (G20) summit will continue to promote economic growth and stability against the backdrop of the volatile world economic situation.

Deputy Foreign Minister Cui Tiankai made the remarks at a press briefing in Beijing on the 7th G20 Leaders' Summit scheduled to be held in Los Cabos, Mexico, next week.

Cui put forward a five-point list of China's expectations for the Los Cabos summit.

He said G20 member states should work together to overcome current difficulties and exhibit a spirit of win-win cooperation.

The member states should, first and foremost, run their own affairs well and enhance coordination on macroeconomic policies on the basis of respecting each other's national conditions and stages of development, he said.

Cui said the most pressing problems for all member states include generating strong growth and maintaining the momentum of economic recovery.

He said all parties should address the issues of the Eurozone sovereign debt crisis, volatile commodity prices and financial market turmoil through constructive and cooperative discussions.

China hopes the summit will promote the establishment of a fair, just, inclusive and orderly international financial system and push forward the international financial governance reform, he said.

He called on all member states to implement the International Monetary Fund (IMF) quota and governance reform program, which was agreed upon in 2011, and increase the representativeness and voice of the organization's emerging markets and developing countries.

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