http://news.xinhuanet.com/english/2008-10/24/content_10248292.htm
BEIJING, Oct. 24 (Xinhua) -- China's sound economic growth is in
itself a major contribution to global financial stability and economic
growth, Chinese President Hu Jintao said here on Friday, referring to
the global financial crisis that has shocked the world financial
markets.
That's why China must first and foremost run its own affairs well,
Hu told leaders of 45 Asian and European nations and organizations at
the opening ceremony of the Seventh Asia-Europe Meeting.
In his key-note speech, the president recalled China's recent
development, saying that since the beginning of this year, China had
taken robust measures to address the complex changes in the global
economic environment and the grave challenges from nature.
"We have maintained relatively fast economic growth and steady
development of the financial sector. The fundamentals of the Chinese
economy have not changed," Hu said.
On the other hand, he added, however, the global financial crisis
had noticeably increased the uncertainties and factors for instability
in China's economic development. China is now confronted with many
difficulties and challenges in our economic endeavor.
"China is a developing country with 1.3 billion people, and the
Chinese economy is increasingly interconnected with the global
economy. China's sound economic growth is in itself a major
contribution to global financial stability and economic growth. That
is why we must first and foremost run our own affairs well," Hu said.
He said, in the light of the changing domestic and international
economic situation, China would make its macroeconomic regulation
measures more proactive, focused and effective, and make timely
adjustments to the policies.
China would vigorously expand domestic demand, especially consumer
demand, maintain economic and financial stability and stability of the
capital market, while continuing to promote sound and fast economic
and social development, he said.
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