China urges G20 to work towards economic recovery
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China Monday called on the parties of the Group of 20 (G20) to work together to shore up market confidence and consolidate the momentum of the world economic recovery.
The call came out of a press conference in Beijing, where Chinese Assistant Foreign Minister Liu Zhenmin gave a briefing on Chinese President Hu Jintao's upcoming trips abroad.
From Nov. 11 to 14, Hu will attend the 5th G20 Summit in Seoul of the Republic of Korea (ROK) and 18th Asia-Pacific Economic Cooperation (APEC) summit in Japan's Yokohama.
Liu said that the participants will discuss the world economic situation, the framework for a robust, sustainable and balanced economic growth, the reform of the international financial institutions as well as issues on development, financial supervision and world trade.
China called on the G20 parties to enhance coordination on macro-economic policies based on the principle of mutual benefit and win-win results and to send a positive signal that the G20 nations will work together to deal with major economic challenges, Liu said.
Liu said China was ready to work with other G20 nations to promote the reform of the international financial institutions, tighten supervision of the international financial market and increase the voice and representation of the newly emerging markets and developing countries in international financial institutions.
The involved parties are expected to help narrow the development gap between the North and the South and provide political support for the realization of the Millennium Development Goals (MDGs), Liu said.
China hoped that the G20 countries could make joint efforts to curb trade protectionism and secure a comprehensive and balanced outcome of the Doha Round of World Trade Organization negotiations, Liu added.
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