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China expresses G20 expectations

06-25-2010 14:00 BJT Special Report: Hu Visits Canada, Attends G20 Summit |

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Before President Hu Jintao headed to Canada, the Foreign Ministry held a press conference to express China's expectations from the summit.

Vice Foreign Minister Cui Tiankai says key issues for China are reform and a bigger role for emerging economies.

Chinese Vice Foreign Minister Cui Tiankai said, "China hopes the member countries will: enhance communication and coordination of macro-economic policies; push the International Monetary Fund to finish its quota reform to give more representation to emerging markets and developing countries; improve the international financial system and deepen the reform of the international supervision system."

The vice foreign minister also calls member countries to oppose trade protectionism and promote the completion of the Doha round of trade talks.

The Director of International Department of the People's Bank of China, Zhang Tao, talked about China's standpoint on the financial supervision and the IMF reform.

Zhang Tao, director of Int'l Dept., People's Bank of China, said, "China supports strengthening financial supervision. We call on member countries to push forward the IMF reform, fulfilling their commitment on time to increase the quota share to at least 5 percent for the emerging markets and developing countries."

Vice Finance Minister Zhu Guangyao said China has called on developed countries to solve their fiscal problems, keeping the main reserve currency exchange rate stable, and reducing the fluctuation of the international financial market. China has also called on developing countries to promote the economy through reform and structural adjustment.

Editor:Zhang Ning |Source:

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