China Calls for Balanced Growth
Assistant Foreign Minister Liu Zhenmin called on members of the Group of 20 (G20) to work together to shore up market confidence and consolidate the momentum of world economic recovery at a November 5 press conference.
Chinese President Hu Jintao will attend the fifth G20 Summit in Seoul, the Republic of Korea, as well as the 18th Asia-Pacific Economic Cooperation Economic Leaders' Meeting in Yokohama, Japan, from November 11 to 14.
China is willing to cooperate with the international community within the G20 framework to achieve robust, sustainable and balanced economic growth, Liu said. It will work to help reform international financial institutions and solve problems related to development, financial supervision and world trade.
He said China hoped to achieve the following goals at the G20 Summit:
- Enhancing coordination on macroeconomic policies based on the principle of mutual benefit and win-win results, while sending a signal that G20 nations will work together to counter economic challenges;
- Promoting the reform of international financial institutions, tightening supervision of the international financial market and increasing the representation of newly emerging markets and developing countries in international financial institutions;
- Helping narrow the development gap between the North and the South and providing political support for the realization of the curbing trade protectionism and securing a comprehensive and balanced outcome of the Doha Round of WTO negotiations.
- Curbing trade protectionism and securing a comprehensive and balanced outcome of the Doha Round of WTO negotiations.
G20 members should pay equal attention to the concepts of "robustness," "sustainability" and "balance" when discussing economic growth, said Vice Minister of Commerce Yi Xiaozhun.
G20 countries should strive to balance international trade, while resisting trade protectionism, keeping exchange rates stable, removing export limits against developing countries, and strengthening capital and technological support to these countries, he said.