President Hu Jintao outlines 4 point proposal to boost world economic recovery

At the summit, Chinese President Hu Jintao has delivered a speech. He introduced China's policy for tackling the global financial crisis.

President Hu Jintao also emphasized the country's stance on enhancing cooperation and boosting economic growth in the Asia-Pacific region as well as reviving the world economy.

The Chinese president put forward four proposals to push the overall recovery of the global economy.

First, he said China will strongly promote free trade and the further liberalization of investments.

Second, enhancing the integration of regional economies through multiple channels.

Third, a renewed effort to implement reforms of the international financial system.

Last, accelerating the transformation of economic development models with innovative ideas.

President Hu Jintao said the global financial crisis has brought unprecedented difficulties and challenges to the Chinese economy.

But he said China has provided timely adjustments to its macro-economic policies, and introduced a proactive fiscal policy as well as a moderately easy monetary policy.

He added that the government has been improving its stimulus package and policy measures during the course of its implementation.

China's strategy of tackling the crisis is insisting on stimulating domestic demand, with an emphasis on consumer consumption.

Hu Jintao said the measures have produced positive effects.

They've enabled China to maintain the momentum of fast economic growth and has set the stage for sustained growth for the coming years.

Hu Jintao stressed China could not achieve development if it were isolated from the world, and said the world also needs China for development.

The more China develops, the greater opportunities and contributions it can bring to the world.

Hu Jintao added that the measures have helped offset the impact of the global financial crisis, boosting the world's recovery.

The proposals will also offer more opportunities for the development of other countries and the business community of the Asia-Pacific region.