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Hu Jintao Meets with Christine Lagarde, Managing Director of the International Monetary Fund (IMF)

2011/11/03

On November 2, 2011, Chinese President Hu Jintao met with Christine Lagarde, managing director of the International Monetary Fund (IMF) in Cannes, France. The two sides exchanged views on the current world economic situation as well as the reform of the International Monetary Fund (IMF) and its role in the maintenance of global economic and financial stability.

Hu pointed out that the world is experiencing a sluggish economic recovery. Hu noted that some developed countries are struggling with serious sovereign debt problems, while emerging economies are confronted with inflation and drastically fluctuating cross-border capital flows and unstable and uncertain factors are increasing in economic operation. Under such circumstances, all members of the international community should follow the all-in-the-same-boat spirit and join hands to ride out the current woes, he stressed. The world should figure out ways to maintain stable growth, revive market confidence and prevent further spread of the crisis, he said, adding that structural reforms should be carried out to guarantee a robust, sustainable and balanced global economic growth. Maintaining a robust growth should be a top priority at the current stage, the Chinese president said, while urging concerted efforts to resist all forms of protectionism resolutely.

Lagarde appreciated China's support for the IMF, saying that with the global economy facing new threats, the international community should take effective measures to restore market confidence. She also said the developed economies need to make great efforts and support each other while the IMF can provide more help in this regard. She added that China is an important country and plays a major role in promoting global economic and financial stability.

Wang Qishan, Dai Bingguo and other officials attended the meeting.

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