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G20 summit continues with focus on key global issues


08:27, June 20, 2012

Chinese President Hu Jintao addresses the seventh Leaders' Summit of the Group of Twenty (G20) in Los Cabos, Mexico, June 18, 2012. (Xinhua/Lan Hongguang)

LOS CABOS, Mexico, June 19 (Xinhua) -- Chinese President Hu Jintao and other Group of Twenty (G20) leaders met for the second day on Tuesday in Los Cabos, Mexico, to seek solutions to pressing global issues and make recommendations for achieving strong, sustainable and balanced economic growth.

At Tuesday's meeting, the leaders will discuss a number of key global issues, including the strengthening of financial system, development, trade and employment.

A summit declaration is expected to be adopted by the leaders before the two-day summit closes later in the day.

On Monday, Hu joined other G20 leaders in discussions on the current world economic situation, including the euro-zone crisis.

The Los Cabos summit comes at a time when the global economy is facing great risks to growth and stability. The euro-zone debt crisis, slowdowns in major developed nations and even in emerging economies, and high unemployment in parts of the world are posing threats to a fragile recovery.

At Monday's meeting, the Chinese president, who attended all the previous G20 summits, presented China's views on the fragile world economic recovery and put forward suggestions for global growth and stability.

Hu said that since the Cannes summit, the world economy has stayed on the course of recovery, and there has been some improvement in growth prospects.

On the other hand, he said, destabilizing factors and uncertainties remain prominent in the world economy.

He said that while the underlying causes of the international crisis are yet to be removed, new risks are emerging and building up.

"Faced with this situation, we need to consolidate what we have achieved in countering the financial crisis, and maintain economic and social stability and development," he said.

"We should be firmly committed to promoting steady recovery of the world economy," Hu said.

At present, he said, securing growth, increasing jobs and promoting stability should still be the top priority of G20 members.

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