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China Expects 'Fair, Inclusive' World Finance System

China expected to build a fair, inclusive and efficient international financial system, said Vice Foreign Minister He Yafei on Thursday.

He made the remarks at a briefing on President Hu Jintao's upcoming trip to the G20 summit on the financial crisis planned for November 15 in Washington.

"We hope to consult with other participants to reform the international financial system and finally try to establish a fair, inclusive and efficient system," He said.

He explained China's stance on the financial crisis, including the following points:

--All countries should act quickly to improve financial supervision and restore market confidence to maintain global economic growth.

--International financial organizations should be reformed to reflect economic changes. Developing countries' representation should be improved and senior officials in such organizations should be chosen by fair competition.

--Developed nations should consider developing countries when making macro-economic policies and help them overcome economic difficulties.

He said Hu would join a banquet hosted by US President George W. Bush on November 14 and attend a seminar and working lunch on November15. Hu will also meet some foreign leaders.

According to He, the G20 will touch upon three topics: evaluating what the international community has done to cope with the crisis, discussing why it happened and probing the way of financial supervision and its reform.

(Xinhua News Agency November 7, 2008)

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