Premier Wen Jiabao has expressed optimism that China's economy would continue to grow quickly and steadily, and he called for confidence, cooperation and responsibility in overcoming the current global financial crisis.
China is facing severe challenges, including shrinking external demand, rising unemployment in urban areas and greater downward pressure on economic growth as the current financial crisis has a big impact on China's economy, Wen told participants of the five-day World Economic Forum which opened on Wednesday in Davos, Switzerland.
China made timely adjustments to the direction of its macro-economic policy, swiftly adopted a proactive fiscal policy and a moderately easing monetary policy, introduced 10 measures to shore up domestic demand, he said.
"China's economy is in good shape on the whole. We managed to maintain steady and relatively fast economic growth in 2008, despite two unexpected massive natural disasters," he said.
The steady and fast growth of the Chinese economy is in itself an important contribution to global financial stability and world economic growth, the Chinese premier added.
"We are full of confidence" as the fundamentals of the Chinese economy, the long-term trend of China's economic development and the advantages contributing to China's economic growth remain unchanged, Wen said.
Many heads of state or government, business leaders and prominent scholars are gathering in the Swiss skiing resort for discussions that centered on ways to shore up global economic growth.
"A lot of discussions will be devoted to the present crisis management, and how to get out of the crisis," said Klaus Schwab, founder and executive chairman of the Davos forum.
Wen said the global financial crisis is a challenge for the whole world, and the pressing task for the international community is "to take further measures to restore market confidence as soon as possible."
In tackling the crisis, confidence is the source of strength, practical cooperation the effective way and accepting responsibilities the prerequisite, he told the forum.
"We should not only take more forceful and effective steps to tide over the current difficulties, but also push for the establishment of a new world economic order that is just, equitable, sound and stable," Wen said.
To this end, international economic cooperation and a sound multilateral trading regime should be promoted, and the reform of the international financial system should be advanced, he said.
It is also necessary to strengthen international cooperation in financial supervision and regulation to guard against the build-up and spread of financial risks, Wen said.
He said the interests of developing countries should be effectively protected and economic development of the whole world should be promoted.
He also called for jointly tackling global challenges, such as climate change, environmental degradation, natural disasters and food security.
(Shanghai Daily January 30, 2009)