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FM: Hu's proposals play important role at G20
(Xinhua)
Updated: 2009-04-04 14:02 LONDON -- Chinese President Hu Jintao made concrete proposals on tackling the global financial crisis at the G20 London summit, playing an important and constructive role for the summit to gain pragmatic results, the Chinese foreign minister said on Friday.
At the summit, Hu called for international cooperation, actively participated in various discussions, comprehensively introduced China's effective measures in dealing with the financial crisis, Yang said. According to Yang, the Chinese president's trip was proved to a success mainly in five aspects. Firstly, Hu expounded China's opinions on the global financial crisis and called for coordination and support between each other to "join hands and tide over the difficulties together."
Secondly, Hu put forward proposals on reforming the international financial system, saying efforts should be made to strengthen cooperation in financial regulations, formulate as soon as possible widely accepted standards and norms of the regulations, Yang said. International financial institutions should offer more aid to developing countries and the Financial Stability Forum should playa bigger role, the Chinese president said. The International Monetary Fund (IMF) should strengthen and improve its supervision over the macroeconomic policies of various economies, major reserve currency issuing economies in particular, with a special focus on their currency issuing policies. Measures should be taken to improve the governance structures of the IMF and the World Bank and give more say to developing countries. |
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