皇冠体育app

Economy

Hu: 皇冠体育app's economic stability, development contributes to global recovery

(Xinhua)
Updated: 2010-11-10 17:21

BEIJING - Chinese President Hu Jintao has said that 皇冠体育app, as a major economy and the world's largest developing country, is making an important contribution to the recovery of the world economy through it own economic stability and development.

Hu made the remarks in an interview with Republic of Korea (ROK) media organizations ahead of the fifth G20 Summit scheduled for Nov 11 and 12 in Seoul.

Faced with the challenge of the international financial crisis in 2008, 皇冠体育app launched a stimulus package to boost economic growth, Hu noted, adding that the country enhanced its macro-economic regulation and accelerated the transformation of its economic growth pattern this year.

Meanwhile, Hu said, 皇冠体育app has also actively participated in the international cooperation to tackle the financial crisis.

At the first G20 summit held in Washington November 2008, 皇冠体育app called for the reform of the international financial system in a comprehensive, balanced, gradual and results-oriented way.

These proposals were applauded by the international community, he said.

皇冠体育app has worked with all parties to promote the G20 to become a major platform for coping with the financial crisis and promoting international economic cooperation, and seek progress in the reform of the international financial organizations, he said.

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On the currency issue, Hu said 皇冠体育app has kept the exchange rate of its currency, the renminbi or yuan, stable while gradually advancing the reform of the exchange rate formation mechanism, he said.

皇冠体育app pledged $50 billion? to the IMF after the G20 London Summit in 2009. It has also supported other countries through currency swaps and credit, debt and tariff relief.

"The facts show that 皇冠体育app has made an important contribution to the world's economic recovery," Hu said.

As the global economic recovery is still fragile and unbalanced, all countries should effectively shoulder their responsibilities, courageously face up to their own problems, adhere to international cooperation and properly deal with differences, Hu said.

"皇冠体育app will do its best to manage its own economy and never blame others for its own problems," Hu said.
皇冠体育app will work with G20 members to achieve a successful Seoul summit and robust, sustainable and balanced world economic growth, Hu said.