Chinese president puts forward four-point proposal on reviving world economy
- Source: Xinhua
- [22:54 November 13 2009]
- Comments
Chinese President Hu Jintao delivers a speech entitled "Strengthen Confidence in Cooperation and Revive the World Economy" at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, in Singapore, Nov. 13, 2009.
Chinese President Hu Jintao on Friday put forward a four-point proposal on reviving the world economy at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Singapore.
In a speech entitled "Strengthen Confidence in Cooperation and Revive the World Economy," Hu called for adopting a multi-pronged approach to turn the crisis into an opportunity, laying a solid foundation for the full recovery of the world economy.
The Chinese president proposed to make greater efforts in four areas.
First, strongly promoting trade and investment liberalization and facilitation.
"We must continue to promote trade and investment liberalization and facilitation and oppose protectionism in all its manifestations, particularly the unreasonable trade and investment restrictions imposed on developing countries," he told the gathering of some 1,000 business leaders from the Asia-Pacific region.
"We should advance the Doha Round (of trade) negotiations on the basis of locking in the existing achievements and respecting the Doha mandate. We need to speed up the settlement of the remaining issues and work for early comprehensive and balanced outcomes in the negotiations in order to achieve the goals of the development round," he said.
The developed members of APEC should adopt effective measures to meet the forum's Bogor Goals for liberalized trade in the region on schedule next year, so as to inject new vitality into sustained economic and trade growth, Hu added.
Second, Hu called for pushing forward regional economic integration through multiple channels.
"We should continue to explore diverse ways to accelerate economic integration in the Asia-Pacific. We should promote economic structural reform with a focus on regulatory reform in a voluntary, flexible and pragmatic fashion," said the Chinese president.
"We should further improve the business environment and facilitate cross-border business operations. And we should continue to improve trade, telecommunication and transportation networks and strengthen infrastructure development in the region so as to provide the material foundation and institutional guarantee for regional economic integration," Hu told the business leaders.
