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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China: Protecting domestic economy is top priority By ANITA CHANG,Associated Press Writer AP - 1 hour 27 minutes ago BEIJING - China's government said Tuesday that ensuring the country's economic stability is the most important step it can take to tackle the global financial crisis, suggesting it might resist pressure to contribute to a global bailout fund. President Hu Jintao is due to attend next weekend's summit in Washington of leaders from 20 major economies to discuss a response to the crisis. British Prime Minister Gordon Brown has called on China, which has nearly $2 trillion in reserves, and oil-rich Middle Eastern nations to fund the bulk of an increase in an IMF bailout fund. "We should put our own house in order and we should stabilize our own financial market and maintain market order," said a foreign ministry spokesman, Qin Gang. "I believe this is the most effective contribution China can make to tackling this financial crisis. It will help to maintain the sound and steady development of the world economy." Qin said Beijing would cooperate with international efforts but gave no details. "On international cooperation, China is acting in a constructive manner. We are ready to make concerted efforts with the international community to strengthen our cooperation and coordination and to fulfill our due role in this crisis," he said. China, the world's fourth-largest economy, unveiled a 4 trillion yuan ($586 billion) stimulus package Sunday, which Premier Wen Jiabao said was its "biggest contribution to the world." The plan calls for higher spending through 2010 on airports, highways and other infrastructure, more aid to the poor and farmers and tax cuts for exporters. Economic growth slowed to 9 percent in the last quarter, down from last year's stunning 11.9 percent rate and the slowest growth in five years. Export orders have fallen sharply as global demand weakens, leading to layoffs and factory closures. 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: China's Economy TOPWRAP 5-Grim economy data throws spotlight on crisis summitReuters - 59 minutes ago China posts record trade surplus, despite global turmoilAFP - 1 hour 6 minutes ago Oil falls to $60 as China spending optimism wanesAP - 1 hour 24 minutes ago China: Protecting domestic economy is top priorityAP - 1 hour 27 minutes ago Related Articles: Business FTSE 100 down 102.36 at 4,301.56AP - 40 minutes ago Macau leader: No plans to help Sands' financingAP - 47 minutes ago Bertelsmann increases 9 month net profitAP - 49 minutes ago India's Reliance Pet may begin fuel exports in AprilReuters - 50 minutes ago Thai Shin Corp Q3 net profit surges, meets forecastReuters - 51 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed In Obama's victory, Americans see legacy of Lincoln Britney Spears's son hospitalized: statement US expands record bailout of insurance giant AIG AIDS vaccines: New hope for problem-plagued path MP3 earphones can hamper defibrillators, pacemakers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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