China joins hands with neighbors in responding to crisis 2009-04-11 00:09:57   Print

    by Xinhua writer Fu Yunwei

    BEIJING, April 10 (Xinhua) -- Chinese Premier Wen Jiabao arrived in Thailand Friday to attend the East Asia Summit and a series of related meetings on April 11-12, in a bid to boost confidence, consolidate cooperation and promote development.

    It also is bound to promote closer ties between China and its neighbor countries.

    Facing up to the grave challenges brought by the financial crisis, China has been working hard to maintain a sound economy. In its effort to adjust macro-economic policies, China in a timely fashion has properly implemented active fiscal policies and relaxed monetary policies.

    In addition, the largest developing country launched a 4 trillion yuan (586 billion U.S. dollar) stimulus package to expand consumption, push forward industrial restructuring and spur economic growth.

    Those measures have started to bear fruit and are bound to produce a positive influence, not only upon China but on East Asia and the world at large as well.

    China lately has been striving to stabilize its economic development by adopting various measures, reminiscent of what happened during the Asian financial crisis 10 years ago when China helped keep the situation in check by pledging not to devalue the yuan.

    In fighting the current crisis, China again actively participates in international cooperation to maintain a basically stable yuan exchange rate, resist protectionism and advocate the interests of developing countries.

    China is ready to work hard with its neighbors to make the upcoming meetings yield practical results, so that Asia can stand in a better position to accelerate regional cooperation to confront the crisis. As a friend in need for East Asia, China is willing to go through thick and thin with its neighbors.

    While the financial crisis posed challenges, it also brought opportunities for Asian countries to deepen mutual trust and cooperation.

    In the wake of the Asian financial crisis in 1997, Asian countries saw the necessity to strengthen regional cooperation.

    That effort eventually gave birth to the current mechanism of dialogue between the Association of Southeast Asian Nations, Japan, South Korea and China. It also created a number of multilateral cooperative measures such as the Chiang Mai initiative featuring currency swap agreements.

    In coping with the financial crisis, East Asian countries can only convert crisis to opportunities by boosting confidence and cooperation.

    They should seize the opportunity to strengthen financial cooperation and promote the construction of the free trade area so that various nations can enjoy a convenient environment for trade and investment.

    As an important part of its diplomatic policy with its neighbors, China has attached great importance to relations with ASEAN. It is committed to strengthening neighboring friendships, promoting mutually beneficial cooperation with ASEAN in an all-round manner.

    The friendly historic ties between China and ASEAN proved that the two sides are interdependent and mutually beneficial in terms of common development.

    We have every reason to believe that Asian countries can welcome a spring season for development by maintaining the tradition of unity in crisis, upholding the all-win spirit and streamlining the regional cooperative mechanism. 

Special Report: Premier Wen Attends 12th China-ASEAN Meetings

Editor: Yan
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