Positive outcomes achieved at G20 summit
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China.org.cn, November 6, 2011
China said Saturday that positive and balanced outcomes were achieved at the sixth summit of the Group of Twenty (G20) held earlier this week in the southern French city of Cannes.
"All the sides were committed at the summit to further coordinating their macro-economic policies, stabilizing the financial market, prompting economic growth, improving global economic governance and working together to maintain the hard-won momentum of the economic recovery," said Ma Zhaoxu, spokesman of the Chinese delegation after President Hu Jintao returned from Cannes, where Hu and the leaders of other G20 members' met to tackle major issues affecting global economic recovery and financial stability.
The Chinese spokesman mentioned the Declaration, the Communique and the Action Plan issued after the meeting as "three outcome documents" of the G20 Cannes summit.
Ma said priority was given to the European sovereign debt issue at the meeting.
"All the sides noted that the European Union has recently put forward a new series of measures and ideas to address the sovereign debt issue and hope that these measures will help Europe to stabilize the financial market, overcome the current difficulties and spur the economic recovery and development," he said.
The Cannes Action Plan approved at the summit was meant to coordinate the macro-economic policies of all the members to endorse economic recovery and summon market confidence, said the spokesman. "It (the passage of the Action Plan) fully displays the resolution of the G20 to work hand in hand to promote a robust, sustainable and balanced world economy."
Ma also hailed the "important consensus" reached at the summit in terms of the reform of the international monetary and financial system, the vibration of commodity price, international trade and development among others.
"It was emphasized at the summit that to address the issue of development is a key task to advance the global economic recovery and growth in the future," he said.
Ma said emerging economies played an "important and constructive" role during the G20 summit.
The continuing economic growth of emerging nations have injected vitality into the stability and recovery of the world economy as the international financial market is striving in turmoil, he said.
Developing countries, represented by the emerging ones in the G20, have become constructive participants of global economic governance, said the spokesman, "which is a great progress of the era and indicates an in-depth readjustment and a historic change in the international economic order," he added.
