China Urges Creation of Better Development Climate 　　Chinese Finance Minister Xiang Huaicheng urged in Washington on September 28 the developed countries to take actions to create a better environment for the healthy development of the world economy. 　　Speaking at the annual meetings of the World Bank and the International Monetary Fund (IMF), Xiang called upon the developed countries to increase resource transfer to and import from developing countries, implement active and responsible fiscal and monetary policies, and coordinate their interest and exchange rates policies. 　　Xiang warned that the global economic environment, though improved, has not stabilized completely and there are still many uncertainties in today's world economy. 　　"To further consolidate the recovery and stabilize the world economy is a challenging task before the governments around the world," he said. 　　Xiang also called upon developing countries to continue their economic restructuring to this end. 　　In order to prevent any future crisis, Xiang said, it is important to strengthen the international financial cooperation and promote the trouble-free and smooth operation of the international financial market. 　　The international community should help developing countries improve their financial supervision and risk prevention capacity, he said. 　　Xiang also stressed the need for the international community to strengthen the supervision on short-term capital flow and contain the excessive speculation of cross-border hot money. 　　On reforming the international financial architecture and establishing a new international financial order, Xiang said the developing countries' full participation is essential, and their interests and demands must be reflected. 　　"The policy choices by the affected countries or regions to overcome the crisis must be respected, and no model should be imposed indiscriminately," he said. 　　The financial crisis also caused serious difficulties to China's economy, but the Chinese government has taken effective measures based on its own circumstances and maintained a rapid growth of the economy, the finance minister said. 　　The Chinese government, taking into account the need to maintain a healthy development for the Asian and the global economy, has adopted a highly responsible policy stance and made tremendous sacrifice by keeping the Chinese currency stable, thereby contributing to the recovery of the Asian economy, he added. 　　Xiang expressed his hope that the World Bank, as the largest development finance institution, will build upon its comparative advantages to provide more concessional funds and further promote the capital flow to its developing country members. 　　"We also hope that the Bank will strictly keep its political neutrality in the conduct of its business, and resist any attempt to politicize the Bank," he said. 　　The Chinese minister urged all the member countries, the major shareholders in particular, to respect and protect the Bank's Articles of Agreement to create a better environment for the Bank to fulfill its development mandate. (Xinhua) Economicnews 1999-09-30 Page7 Full Story in Chinese