CRI听力：Hu Jintao Calls for Enhancing Coordination to Tackle Financial Crisis

Earlier, Chinese President Hu Jintao, in his address to some 1200 participants to the APEC CEO Summit, called on the international community to enhance confidence, strengthen coordination and take effective measures to tackle the ongoing global financial crisis.

Hu Jintao said the crisis has caused shockwaves in the financial markets world wide with most economies being seriously affected, and China is no exception.

"In the past nine months, following the spread of the financial crisis, the problems that the Chinese economy has encountered are becoming more and more evident, its main manifestation being the slow down of export growth. The industrial output and corporate efficiency have also been affected."
Hu Jintao explained a series of government measures China has taken in response to the crisis. These include ensuring the stability of its banking system, providing necessary liquidity support to the financial markets and institutions, as well as enhancing macroeconomic policy coordination and international cooperation.

Given the global nature of the current crisis, the Chinese President points out that joint international efforts including fiscal and monetary measures are needed to stop the spread of the crisis and put world economic growth back on track. He also stresses that business community should remain a major player in promoting world economic development.

"China will continue to promote the building of a sustainable international economic system, an inclusive and orderly international financial system, a just and equitable international trading regime, and a fair and effective global development system."(WwW.hxen.net)

China's efforts were unambiguously appreciated among the summit participants including Nick Reilly, head of Asia-Pacific Operations for General Motors.

"I would like to start by thanking President Hu for China's leadership in adopting a significant economic stimulus programme that he's just talked about. That is clearly the right move during this turbulent economic time, and we certainly hope all other APEC countries will follow this example."