Economy

Hu: Int'l unity needed for economic recovery

(Xinhua)
Updated: 2010-11-10 17:27

BEIJING - Chinese President Hu Jintao, on the eve of the G20 summit in Seoul, has called on the world to pull together to remove problems affecting world economic development and to consolidate recovery.

As a major platform for global economic cooperation, the Group of 20 (G20) shouldered the responsibility of promoting strong, sustainable and balanced growth, said Hu in a  written interview with South Korean media Tuesday before his trip to the G20 summit on Nov 11 and 12.

"The G20 has been an effective mechanism for the international community to cope with the international financial crisis," said Hu.

"The G20 summit is born out of the world demand to jointly promote global economic development and face challenges from the economic and financial sectors," he said.

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He said the world economy was recovering slowly, yet remained uneven and uncertain and "global economic growth still faces severe challenges."

Since November 2008, four G20 summits have been held. By formulating measures against the international financial crisis, the summits have played an important role in returning world economy to growth, stabilizing international financial markets and ensuring the confidence of the public and business, he said.

Referring to a series of promises made during the previous four G20 summits, he said many of these measures have already started to be effective, and all parties should fulfill their promises as quickly as possible to secure and expand the influence of the G20.

"G20 members should oppose all forms of protectionism and further eliminate policies and measures blocking free trade and investment, nurturing new growth areas as economic globalization proceeds," Hu said.

He said China would like to keep working with the G20 member nations to ensure that the G20 summits continued producing progressive outcomes.