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President Hu arrives in London for G20 summit

(Xinhua)
Updated: 2009-04-01 19:53

Chinese President Hu Jintao (R) is welcomed by British former Deputy Prime Minister John Prescott, who is the special envoy of British Prime Minister Gordon Brown, upon his arrival in London, Britain, on April 1, 2009. [Xinhua]

LONDON -- Chinese President Hu Jintao arrived in London on Wednesday to attend the Group of 20 (G20) summit, which will be dominated by discussions of measures to tackle the international financial crisis.

The London Summit brings together leaders of the G20 and representatives of international organizations and financial institutions to work cooperatively to restore stability and stimulate global economic growth.

At Thursday's summit, the leaders will focus on such subjects as enhancing the coordination of macroeconomic policies, pushing for necessary reforms in the world financial system, and stabilizing global financial market.

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

The London summit, as a follow-up to a meeting last November in Washington, would be highly significant in restoring global confidence, stabilizing international financial markets and pushing for the restoration of growth in the world economy, Hu said.

China as a responsible country would work with all other parties attending the summit to help yield "positive" and "practical" results, the president said.

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

Chinese President Hu Jintao (R) is welcomed upon his arrival at the Hyde Park Hotel in London, Britain, on April 1, 2009. [Xinhua]

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

"The international financial system should undergo necessary reforms in an all-round, balanced, gradual and effective manner to prevent a similar crisis in the future," the president said.

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

As a responsible member of the international community, China has taken 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 necessary reforms in the world financial system and safeguarding the stability of the multilateral trade system in a bid to contribute to a restoration of global economic growth, Hu added.

According to the British government, host of the meeting, the goals of the summit are to secure the world's economic recovery and to agree on the contours of a strengthened financial system.

Other goals include an agreement on the principles, priorities and processes for the reform of international financial institutions.

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