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Hu arrives for G20 summit in Pittsburgh

(Xinhua)
Updated: 2009-09-25 02:35

PITTSBURGH, United States: Chinese President Hu Jintao arrived in Pittsburgh on Thursday to attend the Group of 20 summit which focuses on how to nurture recovery from the global economic and financial recession.

President Hu is expected to outline China's stance on how to promote the world economic recovery, how to reform the international financial system, and how to achieve a balanced and sustainable growth, according to Vice Foreign Minister He Yafei.

The Pittsburgh G20 will be the third such summit held since the onset of the global economic recession caused by last year's financial crisis.

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China expects the Pittsburgh summit, apart from reviewing the progress already made since the Washington and London summits, to achieve positive results in macro-economic policy coordination, reform of international financial organizations, development and measures against protectionism, the Chinese vice foreign minister said.

He added that the previous two summits had achieved very important results thanks to broad consensus. He expected the third summit to actively advance the reform of governance of international financial institutions by giving a greater say and representation to developing countries and emerging economies.

"The Pittsburgh Summit is an important opportunity to continue the hard work that we have done in confronting the global economic crisis and renewing prosperity for our people," said US President Barack Obama whose government is hosting the Pittsburgh summit.

Formally established in 1999 to bring together major industrialized and developing economies to discuss key issues concerning global economy, the G20 group consists of Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States and the European Union.