Sunday, December 12, 2010

G20 summit, President Hu stressed that prudent efforts to grasp the rhythm of the timing of withdrawal.

<P> President Hu Jintao held in Toronto, 27 leaders of the Group of Twenty Fourth Summit entitled "work together to create the future" speech. .Hu said that to be prudent and secure grasp of the economic stimulus exit timing, rhythm, dynamics, and consolidate the momentum of world economic recovery. .</ P> <P> In his speech, Hu stressed the need to promote the Group of Twenty from the global financial crisis shifted the effective mechanism of the main platform for international economic cooperation, coordination shift from the growth of co-stimulatory, long-term shift from short-term emergency management .from passive to active response plan; accelerate the establishment of a fair, equitable, inclusive and orderly international financial order; promote the building of open and free global trading system. .</ P> <P> as early as possible in order to promote the world economy into a strong, sustainable, balanced growth, Hu Jintao made the following recommendations: </ P> <P> first, to promote the Group of Twenty to tackle the financial crisis from an effective mechanism for steering .promote international economic cooperation a major platform. .Currently, the world economic situation is still very complex and require to play a leading role in the Group of Twenty. .We should focus on long-term, to promote the Group of Twenty shift from the coordinated growth of co-stimulatory, long-term shift from short-term emergency management, response from passive to active planning. .Twenty members of the Group to strengthen the coordination of macroeconomic policies, maintain a reasonable policy efforts to support the occurrence of sovereign debt crisis countries to overcome the current difficulties. .To be prudent and secure grasp of the economic stimulus exit timing, rhythm, dynamics, and consolidate the momentum of world economic recovery. .The first 3 times to fully implement the decision and the summit reached consensus, and jointly safeguard the credibility and effectiveness of the Group of Twenty, in the step by step, the principle of mutual benefit to promote the institutional building of the Group of Twenty, properly handle contradictions and differences ., summit of the Group of Twenty mechanism to ensure a healthy track forward. .Properly handle the Group of Twenty mechanisms with other international organizations and multilateral mechanisms for the relationship, to ensure that the Group of Twenty in promoting international economic cooperation and global economic governance play a central role. .</ P> <P> Second, accelerate the establishment of a fair, equitable, inclusive and orderly international financial order. .We should bear in mind the profound lessons of the international financial crisis, get to the root, the right medicine, in a simple, easy to principles of accountability to promote international financial regulatory reforms, the establishment of real economic development is conducive to the international financial system. .To establish and enforce strict capital and leverage ratio requirements, the shadow banking system into the regulation of accounting standards for a global unified system to focus on the importance of strengthening supervision of financial institutions to take the necessary preventive measures to prevent the risk of excessive speculation. .To emphasize the core principles and standards of international regulatory consistency, taking fully into account differences in the financial markets in different countries, and improve the relevance and effectiveness of financial supervision. .To strengthen the supervision of credit rating agencies to reduce reliance on credit rating agencies, improve the credit rating agency codes of conduct and accountability, in particular, to develop objective, fair, reasonable and uniform methods and standards for sovereign credit ratings, so that the rating .The results accurately reflect a country's economic situation and credit rating. .To continue to promote the reform of international financial institutions, to speed up the adjustment of the International Monetary Fund share to encourage more people in emerging markets and developing countries as executives of international financial institutions to improve the representation and voice of developing countries. .International Monetary Fund to strengthen capacity building and supervision reform, strengthening of the parties, especially the major reserve currency issuing the supervision of macroeconomic policies. .</ P> <P> Third, promote the building of open and free global trading system. .We must take concrete action against all forms of protectionism, strong advocacy and support for free trade, and continued commitment and strictly enforce the right commodities, investment and services as the new restrictions. .Developed a more open attitude to the promotion of international trade development, in line with mutual benefit and common development principles, adhere to dialogue and consultations to properly handle trade frictions. .Maintained in accordance with the Doha mandate, the results have been locked to the current negotiating text-based principles of the Doha Round negotiations, comprehensive and balanced outcome of the development round as early as possible targets. .</ P>.

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