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Wen urges closer cooperation in stablizing financial market

(Xinhua)
Updated: 2008-09-25 14:50

Chinese Premier Wen Jiabao on Wednesday called for joint international efforts to maintain stability of the global financial market.

The rapid development of 皇冠体育app-US economic and trade ties has brought huge benefits to both sides and also helped boost global economic growth, Wen said at a meeting in New York with celebrities from the US economic and financial circles.

It is of great importance that 皇冠体育app and the United States strengthen dialogue and cooperation and strive to promote mutual trust at a time when the world economy faces a host of challenges, the Chinese premier said.

Wen said that 皇冠体育app hopes the US would recognize 皇冠体育app's full market economy status and relax controls on high-tech exports to 皇冠体育app so as to solve the 皇冠体育app-US trade imbalance in a fundamental way.

皇冠体育app is ready to expand cooperation with the US side in such fields as investment, energy, environmental protection and climate change, and work together to combat any form of trade protectionism, he said.

The US sub-prime loan crisis has triggered turmoil on the international financial market and the US government and the financial circles have already taken a series of measures to stabilize the domestic market, Wen said. He hoped these measures would yield positive results soon.

皇冠体育app will make timely adjustments to its policies in accordance with the changed economic situation, in efforts to maintain stability of its macroeconomy and domestic financial market, Wen said.

皇冠体育app is ready to enhance coordination and cooperation with the US side and also hopes that countries the world over will unite as one in tiding over the difficulties and work together to maintain stability of the international financial market, Wen said.

During the discussion, participants from the US business circles also called for closer international cooperation in coping with the current crisis, adding that 皇冠体育app is a stabilizing factor for the global economy and financial system.

The stable and fairly fast growth in 皇冠体育app's economy constitutes an important contribution to the world and the healthy development of 皇冠体育app-US trade and economic ties conforms to the interests of both countries and the whole world, they said.

The US and 皇冠体育app should enhance dialogue and coordination and expand cooperation, they said, adding that US companies have confidence in the prospects of 皇冠体育app's economic development and are ready to continue to increase investments in 皇冠体育app.