| Hu urges int'l financial system reform |
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| Wednesday,April 01,2009 Posted: 15:12 BJT(0712 GMT) |
| From:xinhuanet Article type:Reproduced |
Chinese President Hu Jintao left Beijing Wednesday morning for the Group of 20 (G20) financial summit in London with a call for overhauling the international financial system, stabilizing the global financial market and preventing trade protectionism.
Hu's entourage includes Vice Premier Wang Qishan, Foreign Minister Yang Jiechi, Minister of Finance Xie Xuren, Minister of Commerce Chen Deming, and central bank governor Zhou Xiaochuan. The G20 summit is scheduled for April 1 and 2.
Just ahead of his departure, President Hu said in an exclusive interview with Xinhua that "the international financial system should undergo necessary reforms in an all-round, balanced, gradual and effective manner to prevent a similar (financial) crisis in the future."
The G20 summit is crucial as the world leaders will gather to discuss measures to address the worst global economic crisis since the "Great Depression."
Hu said efforts should be made as soon as possible to stabilize the global financial market and earnestly give play to the role of finance in spurring the real economy to restore the confidence of the people and enterprises.
With the impact of the global financial crisis on the real economy deepening, countries should adopt economic stimulus measures in line with their own situations and work together to promote growth and employment, said Hu.
China will work with all the other parties attending the summit to help yield "positive" and "practical" results, Hu said.
Last week, People's Bank of China Governor Zhou Xiaochuan urged an overhaul of the global financial system, and an end to the US dollar's dominance in international trade and investment.
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