China's per capita GDP to reach $3,000 in 15 years: Hu

      G20 delegates hold 1st day of discussion on 3 topics

    BEIJING, Oct. 15 (Xinhuanet) -- Chinese President Hu Jintao delivered a speech at the Seventh G20 Finance Ministers and Central Bank Governors Meeting, which opened Saturday in Beijing. The full text of Hu's speech reads as follows:

Strengthening Global Cooperation to Promote Common Development

    Address by President Hu Jintao at the Opening Ceremony of the G20 Finance Ministers and Central Bank Governors Meeting

October 15, 2005

    Distinguished Guests, Ladies and Gentlemen,

Chinese President Hu Jintao addresses the opening ceremony of the Seventh G20 Finance Ministers and Central Bank Governors Meeting in Beijing Oct. 15, 2005. (Xinhua Photo)

    I wish to express, on behalf of the Chinese government and people, warm congratulations on the convocation of the Seventh G20 Finance Ministers and Central Bank Governors Meeting in this beautiful season in China. I warmly welcome all the participating finance ministers, central bank governors and representatives of international financial institutions.

    It is of great significance for this meeting to take "Global Cooperation: Promoting Balanced and Orderly World Economic Development" as its theme. I believe your deep-going discussions and common understanding on this theme will have a positive influence on the growth of the world economy and common development of all countries.

    At present, governments and people of all countries follow closely the development of the world economy. This is because the world today is undergoing profound and complicated changes and we are faced with both opportunities and challenges.

    On the one hand, peace and development remain the theme of our times. Economic globalization is going to greater depth. At an amazing speed, modern science and technology have been making continuous progress that is marked by the advancement of information technology and bio-technology. And international industrial transfer as well as the flow of production factors have accelerated. All this offers countries in the world rare opportunities for development.

    On the other hand, however, the global problem of uneven development is increasingly salient as the gap between the North and South is further widening. There are financial turbulences from time to time and new manifestations of trade barriers and protectionism.

    Facing all this, we must strengthen international cooperation to seize opportunities and meet challenges together so as to promote balanced and orderly development of the world economy. This is the common aspiration of the world people and the inevitable demand of our times. In this connection, I wish to put forward the following four suggestions.

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