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China, US pledge joint efforts to revive world economy

(Xinhua)
Updated: 2009-04-02 10:04

LONDON -- China is ready to work together with the United States to bring about an early recovery of the faltering world economy, Chinese President Hu Jintao said here Wednesday during his first face-to-face talk with his US counterpart Barack Obama.

Chinese President Hu Jintao (L) shakes hands with his US counterpart Barack Obama during their first meeting in London, Britain, on April 1, 2009. [Xinhua]

The international financial crisis is still spreading and deepening, taking a heavy toll on the economy and people's lives in countries around the world, Hu said. Working together to tackle the crisis has become the top priority of the international community, he said.

China welcomed the economic stimulus plans adopted by the US side, and hoped they would take effect as soon as possible to restore financial market stability and economic growth, Hu said.

Since the onset of the crisis, China and the United States have maintained effective coordination and cooperation, Hu said, adding that China will continue to enhance coordination in macroeconomic policies with the US side, expand cooperation in trade and investment, push forward the reform of the international financial system, reinforce financial regulation, maintain international financial stability and restore world economic growth.

Special coverage: G20 Financial Summit Related readings: China goes to G20 summit with reform proposal President Hu arrives in London for G20 summit G20 meeting shouldering huge responsibilities G20 summit no panacea for free trade – economists

For his part, Obama said both the United States and China have benefited from their strong economic relationship, and the two countries should continue promoting trade and economic cooperation on this basis.

After the outbreak of the financial crisis, China has launched massive economic stimulus plans, and similar measures were also taken by the United States, Obama said, adding that he hoped all members of the G20 group could take stimulus measures to revive world economic growth.

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