Helping Each Other and Promoting Common Development

Foreign Minister Yang Jiechi Talks about President Hu Jintao's Participation in the Fifth G20 Summit and the Eighteenth APEC Economic Leaders' Meeting

President Hu Jintao attended the 5th G20 Summit in Seoul, the Republic of Korea (ROK) and the 18th APEC Economic Leaders' Meeting in Yokohama, Japan from November 11 to 14, 2010. At the end of the events, Foreign Minister Yang Jiechi introduced to the accompanying journalists the achievements of President Hu's attendance at the meetings.

Yang said that President Hu attended the two meetings against a special historical background. The world economy is recovering slowly but the foundation remains weak and the process unbalanced. There still exist unstable and uncertain factors in the world economy. It becomes more difficult for countries to coordinate their macroeconomic policies. The G20 is transferring from a crisis response to a long-term governance mechanism. As the first of its kind held in an emerging market and an Asian country, the Seoul Summit is very important to the future development of G20. The 18th APEC Economic Leaders' Meeting focused on formulating the economic growth strategy, assessing the achievement of the Bogor Goals on trade and investment liberalization and promoting regional economic integration. As the world economic recovery slows down, the role and influence of Asia Pacific keep rising. It is clear that Asia Pacific has become a major driving force for world economic growth. The regional cooperation structure of Asia Pacific is changing fast and the future direction of Asia Pacific regional cooperation has drawn wide attention.

He pointed out that President Hu's participation in the two meetings is a major diplomatic activity of Chinese national leaders aiming at stimulating the strong, sustained and balanced growth of world economy and boosting the regional cooperation in Asia Pacific. Within four days, President Hu attended more than 20 bilateral and multilateral activities, delivered important speeches to the G20 Summit and the APEC Economic Leaders' Meeting, made a keynote speech to the APEC CEO Summit, held talks with his US, Russian and South Korean counterparts, met with Japanese Prime Minister Naoto Kan, held dialogue with representatives of the APEC Business Advisory Council and contacted people from different sectors extensively. Prior to attending the meetings, President Hu received a joint interview of South Korean media on issues concerning the G20's role and future development, China's contributions to tackling the international financial crisis and boosting the world economic recovery, China's relations with Asian neighboring countries and China-South Korea ties. The international media kept a close eye on and spoke highly of President Hu's visit. Covering the events extensively, South Korean, Japanese and major international media at large believe President Hu's opinions and suggestions on the international and regional cooperation demonstrate China's sincerity and constructive attitude of promoting world economic growth and regional cooperation in Asia Pacific and a bigger and more positive role of China on the international arena. Having reached the goals of increasing understanding, advocating cooperation, strengthening solidarity and promoting common development, President Hu's participation in the meetings achieved full success.

I. Promote the strong, sustained and balanced growth of world economy

Yang noted that to achieve strong, sustained and balanced growth of world economy is an important theme of the G20 Summit in Seoul. During the summit, President Hu urged all parties concerned to carry forward the spirit of cooperation, strengthen solidarity and cope with regional and global challenges together. He pointed out in his speech that all members should help each other and make continuous efforts to boost the strong, sustained and balanced growth of world economy in the attitude of being responsible for the history and the future and from the perspective of safeguarding the interest of entire mankind against the background that world economic recovery becomes more fragile and unbalanced, the profound impact of global financial crisis is reverberating and the global development issues grow more pressing. He raised four suggestions on improving the framework mechanism and promoting cooperative development; advocating open trade and promoting coordinated development; improving the financial system and promoting stable development; narrowing down development gap and promoting balanced development.

The development issues are top concerns of developing countries and have big impact on world economic growth. President Hu delivered important remarks on the development issues at the G20 Seoul Summit, stressing that to boost development is the common responsibility of G20 members, a more equitable and more balanced new global partnership for development should be built, the spillover effects of G20's macroeconomic policies on developing countries should be considered seriously and a new development concept of promoting growth through development and resisting risks through cooperation should be set up.

Concerning the reform of international financial institutions, President Hu said that the reform is a long-term and dynamic process and the quota shares and voting rights reform is only a starting point. We should continue to follow the fair and merit-based principle of selecting the management of international financial institutions, push the International Monetary Fund to strengthen monitoring and early alarming of capital flow, balance the relations between financial supervision and financial innovation, government intervention and market regulation, solve the systemic and fundamental problems of international financial system and at the same time improve the international monetary system.

The propositions expounded by President Hu received high attention and positive responses from all participating leaders. They agreed to move forward together and stimulate development worldwide.

II. Boost the economic development and regional cooperation in Asia Pacific

Yang said that Asia Pacific in general maintains a sound momentum of economic growth and has become a major engine of the sustained recovery and growth of world economy. Meanwhile, the region still faces some difficulties and challenges of economic growth and needs to work hard to protect the achievements of economic development. President Hu delivered an important speech on Asia Pacific regional economic development and cooperation to the APEC Economic Leaders' Meeting, pointing out that members should stimulate balanced growth and create conditions for the long-term economic development; advocate inclusive growth and increase the endogenous dynamic of economic development; promote sustainable growth and achieve long-term economic development; encourage innovation-driven economic development; achieve secure growth and protect the outcomes of economic development. President Hu stressed that this year is the deadline of APEC developed members to realize the Bogor Goals and has landmark significance to APEC's development. APEC should carry forward the spirit of Bogor Goals, adapt to changes, tackle new challenges aggressively, use their advantages, make reform and improvement continuously and play a bigger role. Trade and investment liberalization and facilitation should be advanced and regional economic integration accelerated. The growth strategy should be implemented and economic growth quality improved. Economic and technological cooperation should be cemented to increase the self-development capacity and endogenous dynamic of economic growth of developing members. China will vigorously develop relations with all members and work with them to build a regional environment featured by peace and stability, equality and mutual trust and win-win cooperation and forge a harmonious Asia Pacific with lasting peace and common prosperity.

President Hu pointed out the direction of Asia Pacific economic growth in the post-crisis era and helped promote the healthy development of APEC, boost Asia Pacific regional cooperation and lift China's influence on the regional cooperation. All the members agreed to adapt to changes in the world and regional economic situations and grow the regional economy strong and fast at a higher level.

III. Deepen the friendly and cooperative country-to-country relations

Yang said that President Hu met with US President Barack Obama, Russian President Dmitry Medvedev and South Korean President Lee Myung-bak respectively while attending the G20 Summit in Seoul. The two sides exchanged straightforward opinions and reached wide consensuses on the bilateral relations and the international and regional issues of common concern.

When meeting with US President Barack Obama, President Hu noted that mankind is coming to the second decade of the 21st century. Faced with profound and complicated changes in the international situation, both China and the US shoulder the pressing tasks of promoting the positive, cooperative and all-round bilateral relations at a higher level and cooperating in areas concerning their common interest, which is important to not only the future of China and the US but also that of the world. Both sides should strengthen dialogue, exchange and cooperation, respect each other's core interest and push forward the sustained, healthy and stable progress of bilateral relations. China hopes the US follow a positive and constructive policy with China and remain committed to stabilizing and growing the bilateral ties. In the face of changing international and regional situations, China and the US should trust each other, join hands to tackle ever increasing global challenges and bring benefit to their own people and people all around the world. China-US relations face new development opportunities which should hopefully be seized by both sides to push forward the bilateral exchanges and maintain the sound momentum of bilateral ties. President Obama fully agreed on President Hu's opinions on developing the bilateral relations. He said that both the US and China have worked hard to develop bilateral relations and pragmatic cooperation in recent years. The two countries maintain strategic and economic dialogues and keep in-depth consultations on the bilateral relations as well as international and regional issues. The bilateral relations enjoy a strong and stable momentum. The US expects to enhance cooperation with China in boosting the strong, sustained and balanced growth of world economy. It is looking forward to more dialogues and consultations with China and further developing the bilateral relations.

In the meeting with Russian President Dmitry Medvedev, President Hu pointed out that next year will be the 10th anniversary of the China-Russia Treaty of Good-Neighborly Friendship and Cooperation. The two countries should hold grand celebrations on the anniversary, which will promote the friendship from generation to generation between China and Russia, strengthen the traditional friendship between the two peoples and expand the bilateral all-round strategic partnership. Medvedev said that Russia is willing to work with China to reinforce the bilateral strategic partnership. Russia agrees to celebrate the 10th anniversary of the Treaty grandly next year. The two heads of state consented to step up coordination and collaboration in the G20, APEC, the Shanghai Cooperation Organization, BRIC and other international and regional organizations, continue to reform the international monetary system and strengthen the international financial supervision.

President Hu pointed out during talks with South Korean President Lee Myung-bak that China and South Korea enjoy sound relations. Facts show that China-South Korea relations can withstand tests and keep progressing. China and South Korea are important neighbors and partners. China expects to work with South Korea to push forward the bilateral strategic partnership. For the next step, both sides should make concrete efforts to increase political mutual trust, deepen pragmatic cooperation and consolidate the basis of friendship. President Lee noted that South Korea feels grateful for the great support China has extended for the success of the G20 Seoul Summit. To maintain healthy and stable development of the Chinese economy is crucial to not only the Asian economy but also the recovery of world economy. Both sides should step up political and economic cooperation, broaden exchanges in different sectors of the society, increase mutual trust and lift up bilateral strategic partnership.

President Hu, at request, held talks with Japanese Prime Minister Naoto Kan when attending the APEC Economic Leaders' Meeting. President Hu stressed that to follow the path of peace, friendship and cooperation is a correct choice of China and Japan and their people and serves the fundamental interest of both sides. The two countries should abide by the principles established in their four political documents, stick to the correct direction of bilateral ties and push the bilateral strategic and reciprocal relations forward on a healthy and stable track from a strategic height and a long-term perspective. Both countries should resolutely carry out the non-governmental, cultural and educational exchanges in order to increase the mutual understanding and friendship between their people. China and Japan are major trade and economic partners to each other. They should deepen the mutually beneficial cooperation, step up dialogue and coordination in international affairs, boost Asian rejuvenation and handle global challenges jointly. Expressing full agreement on President Hu's opinions on developing China-Japan relations, Prime Minister Naoto Kan hopes both sides increase cooperation and further improve and develop the bilateral ties.

Yang said that China's development is a major part of world development. China's development direction has drawn close attention during the two meetings. President Hu made targeted elaborations on that point and stressed that China and other participating members should learn from each other's strong points to offset one's weakness, cooperate on an equal footing and seek common development. China will stick to its basic national policy of opening up, pursue the win-win open strategy, implement the policy of good-neighborly friendship, firmly develop the open economy and take an active part in international and regional cooperation. Being made from a strategic height, President Hu's speeches increased the international community's understanding about China.

President Hu, by attending the two meetings, guided the development direction of G20 and APEC, expounded China's position on the reform of international financial system, boosted Asia Pacific regional economic cooperation, strengthened China's friendly relations with relevant countries and demonstrated China's image as a responsible power, which will definitely exert a profound and far-reaching influence on the strong, sustained and balanced growth of world economy and the future development of G20 and APEC, noted Yang finally.