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Stability, growth, jobs = $1 trillion

By Bao Daozu (China Daily)
Updated: 2009-04-03 07:29

The heads of delegation gather for the Plenary Session at the G20 summit at the ExCel centre, in east London April 2, 2009. [Agencies]

China's role

During the plenary session yesterday morning, President Hu Jintao highlighted China's proactive polices in stimulating its economy while supporting a joint effort to not only bring the world out of the economic downturn, but also create a roadmap for reform in the international financial system.

He said the "most pressing task in countering the global financial crisis is to restore economic growth and prevent a severe recession".

"Every effort should be made to oppose all forms of protectionism, maintain an open and free environment for trade and investment, speed up reform and reshape the international financial order," Hu told other leaders attending the summit.

Special Coverage:  G20 Financial Summit Related readings:  G20 leaders agree to fight protectionism  Chinese president attends G20 financial summit in London  G20 leaders open summit in London to tackle financial crisis  Top economists urge G20 to embrace free trade  G20 leaders mull tripling of funds available through IMF

China's efforts to boost its own growth and its increasing role in shaping the future of the world monetary system were widely acknowledged.

John Lipsky, first deputy managing director of the International Monetary Fund, said "China is a big country and will play an ever bigger role in the world".

Dr Paola Subacchi, research director at London think tank Chatham House, said her impression last year before the G20 Washington Summit was that "China was keeping itself in a detached position".

"I think now China is more involved. Over the last two weeks, we see China becoming involved in the process," Subacchi said.

AP contributed to the story

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