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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: China says G20 summit success a priority Reuters - 1 hour 20 minutes ago By Chris Buckley ADVERTISEMENT BEIJING - China wants the G20 summit to make progress against global financial turmoil, Foreign Minister Yang Jiechi said, stressing the economic imperatives of China's foreign policy and the desire for solid U.S. ties. The April 2 summit of big developed and developing countries in London aims to put the world economy on a path to recovery. Yang said on Saturday that Beijing wanted a major say there and in longer-term talks about reworking the global financial order. The overarching goal of Chinese foreign policy was to "spare no effort to ensure the stable and relatively fast growth of the domestic economy," he told a news conference held to coincide with the country's annual parliament session. "The pressing task now is that all countries must work together to make the upcoming financial summit in London a success," Yang added. "We believe the summit should play a role in boosting confidence, strengthening coordination on macroeconomic policies, stabilising financial markets, undertaking necessary reforms in the global financial system and regulatory regime." Yang's 90-minute news conference highlighted the extent to which the world's third-biggest economy now views its diplomacy through an economic lens. He brushed aside a question about whether his government blamed economic laxity in Washington for the world's woes. He said the two had to work together and added that Beijing was off to a good start with President Barack Obama's administration. "In the current international environment, China and the U.S. share broad common interests. We hope that each side can accommodate the other's core interests and enhance exchanges and cooperation," he said. Obama and Chinese President Hu Jintao will meet for the first time in London. How the two sides handle their sometimes fractious economic ties will be crucial to the course of the global economy. The United States buys more Chinese exports than any other nation and China holds more U.S. government bonds than any other foreign country. With Washington likely to issue new debt to help pay for Obama's stimulus package, China's holdings could grow. But Obama has also pressed Beijing to continue appreciating the yuan, which he sees as undervalued, making Chinese exports unfairly cheap. The London summit will follow last November's G20 crisis meeting in Washington and aims to agree on coordinated actions to revive the global economy, reform of financial systems and principles for reforming international financial institutions. In a position paper prepared for the April 2 meeting, China has called for more power for developing countries in the International Monetary Fund and World Bank. Yang did not give details about his government demands and expectations from the gathering. But he broadly stressed that the global financial crisis should create more of a say for his and other poorer countries. Premier Wen Jiabao on Thursday reaffirmed China's goal of 8 percent growth for 2009 after years of double-digit expansion figures. Echoing comments from many senior Chinese officials, Yang said his country's "biggest contribution to dealing with the financial crisis is continuing to maintain stable and relatively fast growth." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Asia Pacific Five 'foreign' robbers shot dead: policeAFP - 6 minutes ago US wants dialogue with Pyongyang: envoyAFP - 18 minutes ago Malaysia police fire tear gas at language protestAP - 24 minutes ago Bomb blast kills 2, wounds 100 in central ChinaAP - 27 minutes ago Police: Car bombing kills 8 people in PakistanAP - 30 minutes ago Most Popular – Asia Pacific Viewed Ladyboy lizards use transvestite trickery: researchers Banking meltdown drags Iceland into recession Zimbabwe PM hurt, wife killed in car crash: party Broken-legged smuggler caught with 'cocaine' cast Fresh gloom engulfs Asian markets View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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