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Major economies should work together: Hu

Chinese President Hu Jintao on Thursday urged the world's major economies to work together to promote growth and financial stability.

world Updated: Nov 04, 2011 10:42 IST

Chinese President Hu Jintao on Thursday urged the world's major economies to work together to promote growth and financial stability.

"It is imperative that we stand on a higher plane, transcend differences on specific issues, move beyond short-term considerations and jointly seek ways to overcome the crisis and sustain development," Xinhua quoted Hu as telling world leaders duing his speech at the G20 Summit in this French seaside city.

"At this critical moment, the G20 must work to address the key problems, boost market confidence, defuse risks and meet challenges and promote global economic growth and financial stability," he said.

Hu also stated that his country was making more contributions to the world economic growth as its economy had made strides in the past decade.

China has served as a huge market for other countries and its growth has added momentum to global economic recovery, said Hu.

After the outbreak of the global financial crisis, China substantially increased its financial contributions to international financial institutions and extended a helping hand to other developing countries, he said.

China also increased bond purchase from developed countries and played its part in assisting the economic and social development of relevant countries and stabilising the international economic and financial situation, Hu added.