Int'l economic regimes should be improved: President Hu

    President Hu said that international economic and trading regimes and rules should be improved to promote a balanced and orderly development of the world economy.

    Hu said to establish a fair and reasonable international economic order as well as sound international economic and trading regimes and rules is an important guarantee for the promotion of balanced and orderly development of the world economy.

    "We should give vigorous support to efforts to improve the international financial institutions, build up international community's capacity to prevent and cope with crisis and to maintain financial stability and promote development, and create a fair, stable and efficient financial environment for the growth of world economy," he said.

    "We need to make concerted efforts to stabilize the global energy market so as to forge an environment for adequate supply and safe, economical and clean use of energy to fuel world economic growth," he added.

    "We should also energetically support the establishment of an open, fair, reasonable and non-discriminative multilateral trading system so as to create a sound trading environment for global economic growth to the benefit of all countries, developing countries in particular," he said.

    The development of the multilateral trading system is now at a crucial stage, he said, adding that the outcome of the Doha Round will have a direct impact on promoting the balanced and orderly world economic development.

    He said that parties concerned should display greater political sincerity and demonstrate necessary flexibility to vigorously push forward the Doha Round and work for substantive results at the Ministerial Meeting of the WTO at the end of this year.

    China is ready to continue its consultation and cooperation with all parties concerned and work hard for the conclusion of the Doha Round in 2006 with comprehensive and balanced outcome, he said.

China boosting sustainable development: President Hu

    President Hu said that China will strive to bring its economic and social development to the track of sustainable development that is people-centered, balanced and all-dimensional.

    China is currently drawing up the 2006-2010 Program for National Economic and Social Development, Hu said.

    He added China will continue to pursue economic and social development under the concept of scientific development.

    "We will adhere to the policy of expanding domestic demand and blaze a new trail to industrialization featuring high scientific and technological content, good economic returns, low resources consumption, little environmental pollution and a full display of advantages in human resources," said the president.

    China will also accelerate economic restructuring and the transformation of the mode of economic growth, enhance innovative ability, make further progress in reform and openness, facilitate a balanced development between rural and urban areas and among different regions, and concentrate more on building a harmonious society, with the view to bringing china's economic and social development to the track of sustainable development that is people-centered, balanced and all-dimensional.

    Since the reform and opening-up 27 years ago, Hu said, China has put in place an initial system of socialist market economy and a basic structure of all-dimensional openness.

    China's economy has sustained a rapid growth and its people now live a comfortable life, a historic breakthrough from a period of having only their basic needs met, Hu said.

    "Nevertheless, we are also clearly aware that China remains the biggest developing country in the world that features a huge population, weak economic basis, uneven development and heavy environmental pressure, and that its people's living standards are still not so high."

    "Hence, modernization in China remains a long and uphill journey that will entail many years of hard work," Hu said.

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