President Hu calls for joint effort to promote global economic growth

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Chinese President Hu Jintao has left the United States for home after attending UN meetings and the G20 summit. In his speech to the G-20 summit, Chinese President Hu Jintao has called on world leaders to make every effort to promote global economic growth. He also calls for a comprehensive, balanced and sustainable socio-economic development.

Hu Jintao says the primary task now is to counter the international financial crisis and promote a healthy world economic recovery. He also calls for reform of the financial system to ensure comprehensive, balanced and sustainable socio-economic development.

To achieve this, Hu Jintao calls for more efforts in three areas.

First, to stimulate economic growth. He calls for all countries to use the G20 as a platform to further enhance coordination of macro economic policies.

Both developed and developing countries should take more solid and effective measures and make a greater effort to expand domestic demand and boost consumption.

Hu Jintao also calls for efforts against trade protectionism.

Second, to advance reform of the international financial system.

Hu Jintao calls on the G20 members to follow the timetable and roadmap agreed upon at the London summit, increase the representation and voice of developing countries, and push for substantive progress in the reform.

He urges world leaders to improve the existing decision-making process and mechanism in international financial institutions, and encourage more extensive and effective participation.

He also urges the reform of the international financial supervisory and regulatory regime.

Third, to promote balanced growth of the global economy.

Hu Jintao calls for efforts to bridge the development gap between the North and the South. He calls on world leaders to build international institutions that promote balanced development.

Hu Jintao says China has taken an active role in international cooperation to tackle the crisis, as well as in international development cooperation. China will follow its pledges and measures in a responsible manner, and offer more help to developing countries.