China: Obama´s recovery plan far more aggressive

WATCH VIDEO

Source: CCTV.com | 11-26-2008 08:45

China has expressed willingness to cooperate with US president-elect Barrack Obama's economic team to weather the global financial crisis.

U.S. President-elect Barack Obama is flanked by Council of  Economic Advisors Director-designate Christina Romer(L),  National Economic Council Director-designate Lawrence  Summers (R) as he announces the members of his economic  policy team during a news conference in Chicago, November 24,  2008.(Xinhua/Reuters Photo)

Obama's newly-named cabinet members are putting together a new economic stimulus plan consisting of more than 500 billion US dollars in federal spending and tax cuts over the next two years.

China's Foreign Ministry spokesman Qin Gang said this recovery plan was "far more aggressive" and said he believes Washington's efforts are important to global financial stability and world economic development.

Chinese Foreign Ministry spokesman Qin Gang said, "We hope the US economy can sustain development and that the US financial market can remain stable. This is good for China and for the world. The Chinese side will continuously coordinate and cooperate with the US side to deal with the current international financial crisis."

Qin Qang also said that China and the US will hold their fifth Strategic Economic Dialogue next week to discuss topics including macro-economic strategy, trade and investment cooperation, and energy and environmental issues. The SED is held twice a year and has become an important platform for the two countries to discuss a range of issues.

Editor:Zhang Ning