Special Report: President Hu Attends Financial Summit, APEC Meeting,
Visits Four Nations
LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao put
forward proposals for dealing with major issues in international economic and
social development and tackling the ongoing global financial crisis at the 16th
APEC economic leaders' meeting here on Saturday.
ĦĦĦĦADDRESSING INT'L PROMINENT ISSUES
Hu presented five proposals for addressing the
prominent issues in international economic and social development.
First, APEC member economies should build consensus
and promote sound development of the multilateral trading regime, Hu said.
"A fair and open multilateral trading regime is
conducive to the steady growth of regional and global trade, to the sound growth
of the world economy and to the benefits of all parties," he said.
"We should have strong confidence in the multilateral
trading regime and give strong support to the Doha Round negotiations," he
added.
Second, APEC member economies should take up
responsibilities and jointly tackle climate change, he stressed.
All parties should, in keeping with the requirement
of the UN Framework Convention on Climate Change and its Kyoto Protocol and the
principle of "common but differentiated responsibilities," actively conduct
negotiations for the implementation of the "Bali Roadmap" and take effective
policy measures in light of their respective conditions to mitigate climate
change.
Third, exchanges and cooperation should be conducted
and efforts joined to combat natural disasters, Hu said.
In order to increase exchanges and cooperation in
disaster response in the Asia-Pacific region, China has put forward the APEC
Principles on Disaster Response and Cooperation this year, he said.
"It is also our hope that APEC members will consider
carrying out long-term cooperation projects in post-disaster recovery and
reconstruction so as to deepen APEC cooperation in disaster prevention and
relief," he added.
Fourth, regulation and guidance should be enhanced
and corporate social responsibility strengthened, he said.
"An important lesson we have learned from the ongoing
financial crisis is that while trying to maximize economic returns, enterprises
should follow a prudent, well-thought-out and responsible approach in market
operations," he added.
Fifth, APEC members should take coordinated actions
and ensure world food and energy security, Hu emphasized.
"We should, following the principle of common
development, actively and effectively coordinate our policies and resort to a
variety of joint measures to safeguard world food and energy security," he said.
"We should establish and act on a new energy security
concept that calls for mutually beneficial cooperation, diverse forms of
development and common energy security through coordination," he added.
TACKLING FINANCIAL CRISIS
"The rapidly-spreading international financial
crisis, with its extensive impact, constitutes the most severe challenge
confronting world economic growth," Hu said.
It is a major and urgent task for all countries and
regions to deal effectively with financial risks, maintain international
financial stability and promote world economic development, he added, lodging
three proposals.
First, to curb the worsening financial crisis, all
countries should take prompt and effective measures, enhance macroeconomic
policy coordination, improve information sharing, help each other as much as
possible, and employ all necessary fiscal and monetary means to stop the spread
and development of the financial crisis, bring stability to global financial
markets, stimulate economic growth, minimize the damage of the financial crisis
on the real economy and avoid a global economic recession.
Second, the international community should earnestly
draw lessons from the ongoing financial crisis and, based on full consultations
among all stakeholders, undertake necessary reform of the international
financial system in a comprehensive, balanced, incremental and result-oriented
way, with a view to establishing anew international financial order that is
fair, just, inclusive and orderly and fostering an institutional environment
conducive to sound global economic development.
"The reform of the international financial system
should both reflect the general law and principles of financial regulation and
take into account the specific development stage and unique features of
different economies," he said.
It should seek a balance among the interests of all
parties and reflects, in particular, the interests of emerging markets and
developing countries, he added.
Third, from a long-term perspective, it is necessary
to change those models of economic growth that are not sustainable and to
address the underlying problems in member economies.
"We should also pay adequate attention to the impact
of the financial crisis on the developing world and provide necessary support to
relevant countries to help them maintain growth momentum," he pointed out.
ĦĦĦĦAPEC'S FURTHER DEVELOPMENT
On APEC's development, President Hu said China is
ready to work with other APEC members to promote its further development.
Since its launch almost 20 years ago, APEC has done a
great deal in promoting trade and investment liberalization and facilitation and
economic and technical cooperation, thus making positive contribution to
regional economic integration and the building of an Asia-Pacific family,
President Hu said.
The host of major reform measures adopted within the
APEC framework in recent years have improved APEC's organizing and coordinating
capabilities and significantly enhanced the dynamism and efficiency of APEC
cooperation, Hu said.
To promote the further development of APEC, "we
should maintain the nature of APEC as a forum for economic cooperation and its
approach of conducting cooperation on a non-binding basis, as this best suits
the diversity prevailing in the Asia-Pacific," the Chinese president said.
He said that the APEC members should continue to
promote balanced progress in economic and technical cooperation and trade and
investment liberalization.
"In particular, we should increase input in economic
and technical cooperation to enhance capacity-building in developing members and
narrow the development gap."
Hu arrived here on Wednesday for a state visit to
Peru and the Economic Leaders' Informal Meeting of the Asia-Pacific Economic
Cooperation (APEC).
The APEC economic leaders' meeting opened in Lima on
Saturday to discuss such issues as the ongoing global financial crisis, the Doha
Round trade talks and food security.
The two-day meeting would also discuss the APEC
regional economic integration, corporate social responsibility, human security,
APEC institutional reform, trade and investment, structural reform,
anti-corruption and transparency, economic and technical cooperation, and
climate change.
President Hu says China ready to work
with other APEC members to promote further development
LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao said
Saturday that China is ready to work with other members of the Asia-Pacific
Economic Cooperation (APEC) to promote its further development.
Addressing the 16th APEC economic leaders' meeting,
President Hu said since its launch almost 20 years ago, APEC has done a great
deal in promoting trade and investment liberalization and facilitation and
economic and technical cooperation, thus making positive contribution to
regional economic integration and the building of an Asia-Pacific family. Full story
Hu presents proposals for tackling
financial crisis at APEC meeting
LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao put
forward three proposals for coping with the ongoing worldwide financial crisis
at the 16th APEC economic leaders' meeting here Saturday.
"The rapidly-spreading international financial crisis,
with its extensive impact, constitutes the most severe challenge confronting
world economic growth," Hu said. Full story
APEC leaders pledge further actions to
tackle global financial crisis
LIMA, Nov. 22 (Xinhua) -- Leaders of the Asia-Pacific
Economic Cooperation (APEC) member economies promised on Saturday to support the
agreement reached by leaders of the G-G20 countries to tackle the financial
crisis.
In a joint statement issued Saturday during the APEC
leaders' meeting in the Peruvian capital, the leaders said they "welcome the
Washington Declaration of the leaders of the Group of Twenty at their Summit on
Financial Markets and the World Economy and strongly support the common
principles that will guide the Action Plan for financial markets reform." Full
story
