Special Reports: President Hu Attends G20 London
Summit
Special Report: Global Financial Crisis
LONDON, April 1 (Xinhua) -- China is ready to work
together with the United States to bring about an early recovery of the
faltering world economy, Chinese President Hu Jintao said here Wednesday during
his first face-to-face talk with his U.S. counterpart Barack Obama.
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Chinese President Hu Jintao (L) shakes
hands with U.S. President Barack Obama during their meeting in London,
Britain, on April 1, 2009. (Xinhua/Ju Peng)
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The international financial crisis is still spreading
and deepening, taking a heavy toll on the economy and people's lives in
countries around the world, Hu said. Working together to tackle the crisis has
become the top priority of the international community, he said.
China welcomed the economic stimulus plans adopted by
the U.S. side, and hoped they would take effect as soon as possible to restore
financial market stability and economic growth, Hu said.
Since the onset of the crisis, China and the United
States have maintained effective coordination and cooperation, Hu said, adding
that China will continue to enhance coordination in macroeconomic policies with
the U.S. side, expand cooperation in trade and investment, push forward the
reform of the international financial system, reinforce financial regulation,
maintain international financial stability and restore world economic growth.
For his part, Obama said both the United States and
China have benefited from their strong economic relationship, and the two
countries should continue promoting trade and economic cooperation on this
basis.
After the outbreak of the financial crisis, China has
launched massive economic stimulus plans, and similar measures were also taken
by the United States, Obama said, adding that he hoped all members of the G20
group could take stimulus measures to revive world economic growth.
Meanwhile, efforts should be made to replenish the
resources of international financial institutions, strengthen financial
regulation and reform international financial institutions, he said.
Both countries should also discuss measures to
stimulate world economic growth and development from a long-term perspective, he
said.
Hu and Obama stressed that China and the United
States, as two of the world's major economies, will work together with other
countries to help revive a strong world economic growth, stabilize the
international financial system so as to avoid the reoccurrence of similar grave
crisis.
They shared the views that the stimulus measures
taken by both countries have contributed to enhancing global economic stability,
and agreed that a powerful financial system is crucial for reviving the world
economic growth.
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Chinese President Hu Jintao (2nd R) and
U.S. President Barack Obama (2nd L) meet in London, Britain, on April 1,
2009. (Xinhua/Li Xueren)
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The two leaders also agreed to replenish the
resources of international institutions to help meet the capital shortage of
emerging market and developing countries and pledged to work together for this
end.
The two leaders expressed their firm support for
global trade and investment flow that is beneficial to all, and promised to
oppose protectionism and ensure their sound and stable bilateral trade ties.
Moreover, both leaders agreed to further deepen
mutually beneficial cooperation in a wide range of fields, strengthen policy
dialogue and pragmatic cooperation in energy, environment and climate change,
and resume and expand consultation in non-proliferation as well as other
security issues.
The two leaders agreed to resume dialogue on the
human rights issue at an early date, and expressed the commitment to improving
and developing relations between the armed forces of the two countries.
Hu and Obama met on the sidelines of the Group of 20
(G20) summit slated for Thursday, where leaders and central bank governors from
the world's 20 biggest economies will gather to discuss cooperative measures to
tackle the international financial crisis, among other issues.
