LONDON, Feb. 2 (Xinhua) -- China and Britain on
Monday issued a joint statement, agreeing to strengthen cooperation and actively
deal with the international financial crisis.
As two of the world's leading economies, China and
Britain are crucial players in addressing the unstable economic climate,
according to the joint statement issued after talks between visiting Chinese
Premier Wen Jiabao and British Prime Minister Gordon Brown.
British Prime Minister Gordon Brown (2nd
R Front) and visiting Chinese Premier Wen Jiabao (C Front) attend a
breakfast with guests from the academic and financial circles at 10
Downing Street in London Feb. 2, 2009. (Xinhua/Lan Hongguang)
"We reaffirm our determination to develop still
further our comprehensive strategic partnership, based on the principles of
mutual respect, equality and mutual benefit, in order to support domestic
economic growth, prosperity and stability, to tackle the international
challenges we face, to foster a global recovery from the current economic
crisis, and to pursue sustainable and harmonious development," the statement
On China-EU relations, both sides agreed that
maintaining the steady development of bilateral ties is essential in the current
complicated global political and economic environment.
"We agree to make concerted efforts to promote the
comprehensive strategic partnership between China and the EU," the statement
The two sides said the global economy, buffeted by a
series of major financial shocks unprecedented in scale and scope, is now facing
its worst crisis in generations.
"This is a truly global crisis that can only be
effectively resolved through global cooperation," the statement said.
Both sides reaffirmed to implement the declaration of
the Washington international financial summit last November, calling the
forthcoming London Summit "a vital opportunity" that the world must seize.
The two leaders discussed how to work with other
world leaders so as to ensure the London Summit can deliver the outcomes
necessary to stabilize the world economy, preserve openness, and set the course
for a sustainable recovery, securing growth and jobs domestically and globally.
Both sides also vowed to take "necessary policy
actions to foster sustainable international growth" and provide jobs.
Wen and Brown agreed to continue close cooperation on
improving the regulation, transparency and integrity of financial markets, with
a view to strengthening the healthy functioning of the financial system while
The two sides reconfirmed their commitment to open
markets and free trade, agreeing that "narrow short-term protectionist policies,
through trade and investment barriers or competitive currency devaluations,
would only serve to deepen the global recession."
Both sides also called for the "early, comprehensive
and balanced" resolution of the Doha development round of trade negotiations.
In addition, the two nations share a vision for "more
effective, representative and credible international financial institutions"
that can best work with the international community to deliver a strong and
stable global economy and increased global prosperity.
Emerging and developing economies should have greater
voice and representation in these institutions, the statement said.
The two sides also called for effective multilateral
surveillance and early warning mechanisms to help guard against future crises
and support those countries that have lost access to international capital
They recognized the urgent need to take practical
measures to minimize the grave impact of the financial crisis on developing
Both sides believe that the international community
should work together to conduct effective and comprehensive reform of the
international financial system, working on the basis of full consultation among
Both sides reiterated to expand membership of the
Financial Stability Forum (FSF), an advisory body of the Group of Seven leading
economies, to take in China and other major emerging market economies before the
According to the statement, one important vehicle to
enhance the bilateral cooperation is the new High Level Economic and Financial
Dialogue between Chinese Vice Premier Wang Qishan and British Chancellor
The two nations agreed to hold the second round of
the High Level Dialogue at a mutually agreed time in 2009, and will continue to
make full use of this mechanism to strengthen cooperation on a wide range of
economic and financial policies, critical to financial stability and sustainable
economic development worldwide.
Wen arrived in London Saturday for a three-day
official visit. Britain is the last leg of his week-long European tour, which
began Tuesday and has already taken him to Switzerland, Germany, the European
Union headquarters in Brussels and Spain.