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Summit vital for restoring global confidence: Hu

(Xinhua)
Updated: 2009-04-02 07:45

The G20 summit provides an important platform for the international community to jointly tackle the global economic and financial crisis, President Hu Jintao told Xinhua on Tuesday.

The London gathering is highly significant for restoring global confidence, stabilizing international financial markets and pushing for the restoration of growth in the world economy, Hu said.

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China will work with all other parties at the summit to help achieve "positive" and "practical" results, he said.

With the impact of the global financial crisis on the real economy deepening, various countries should adopt economic stimulus measures in line with their own situation and work hand in hand to promote growth and employment and improve people's lives, Hu said.

Efforts should also be made to stabilize global financial markets and give play to the role of finance in spurring the real economy to restore confidence among people and enterprises, Hu said.

"The international financial system should undergo necessary reforms in a comprehensive, balanced, gradual and effective manner to prevent a similar crisis in the future," Hu said.

Efforts should be made, too, to prevent trade and investment protectionism in order to reduce the impact of the crisis on nations, especially developing countries, he said.

As a responsible member of the international community, China has played an active part in dealing with the financial crisis, Hu said.

China will continue to work with the international community in enhancing macroeconomic policy coordination, pushing for reforms in the world financial system and safeguarding the stability of the multilateral trade system, Hu added.