The world's economic situation remains complicated and severe as the financial crisis further unleashes its wrath worldwide.
Given the global nature of the current crisis, joint international efforts are needed to put the world's economic growth back on track. China, as an active advocator and promoter of international cooperation, has been making persistent efforts in promoting joint efforts among various nations in curbing the economic turmoil.
In a bid to help revive the world economy, China has actively participated in and carried out multilateral diplomacy to coordinate dialogue and communication between the world's developed and emerging economies.
China called on the international community to enhance confidence, strengthen coordination and promote cooperation in combating the financial crisis at the G20 summit in Washington in November 2008.
During the first month of the 2009 Chinese lunar year, China's top leaders embarked on a series of successful visits to several countries in Asia, Africa, Europe and Latin America and reached many agreements with these nations on strengthening bilateral trade and deepening mutually beneficial cooperation.
At the second G20 summit in London in early April, China reiterated its views on how to address the crisis, and stressed strengthening cooperation, pushing forward reform and opposing protectionism.
At the Boao Forum, China put forward a five-point proposal on coping with the financial crisis, which boosted the world's confidence in tackling the impact of the financial crisis. The international community spoke highly of and widely appreciated the unique role China played at the summits and the conferences.
Thanks to China's active participation and continuous efforts, the international community has reached broad consensus on promoting the world's economic growth, reinforcing financial regulations and injecting more funds into global financial institutions.
Many countries and international organizations believe that China has made major contributions to strengthening international cooperation and promoting the world's economic recovery and sustainable development.
Meanwhile, China has also actively participated in discussions on reforming the global financial order, and has made great efforts in exploring new ways to maintain the stability of the world's financial system.
It put forward its opinions and suggestions on how to set up an equitable, just, inclusive and well-managed new global financial order, as well as how to create a sound and healthy world economic system.
Analysts believed that an unreasonable international monetary system is one of the root causes of the current crisis. Therefore, reform of the global financial system is key to resolving the crisis and preventing it from happening again.
Moreover, China has signed with many countries and regions a series of currency swap agreements whose value totals 650 billion yuan (94.3 billion U.S. dollars) in efforts to stabilize the world economy.
To strengthen international cooperation, China also stands resolutely against trade and investment protectionism, playing its due role as a responsible power. Chinese leaders have reiterated on many occasions that protectionism would actually hurt everyone in the face of the current crisis.
In a report issued on March 17, the World Bank said that since the outbreak of the financial crisis, countries around the world have mapped out some 78 protectionist measures, 47 of which have been put into practice.
In contrast, the Chinese government has not only organized large-scale overseas procurement, but also offered to wipe out the debts of 46 most undeveloped countries, worth more than 40 billion yuan (some 5.8 billion dollars).
China has provided more than 200 billion yuan (some 29 billion dollars) in aid to many countries, and promised to impose zero tax on most of the goods exported to China from most undeveloped countries.
Moreover, China has managed to maintain a basically stable exchange rate for the yuan, showing its strong sense of responsibility toward the international community.
In the face of the crisis, China's attitude of opening up originates from the belief that being energetic and further opening up is not only conducive to its own stable and rapid economic growth, but also contributes to the world's joint efforts to confront the global financial crisis and promote world peace and development.
Right now, human civilization is in a critical stage, in which cooperation is the only choice for all countries. Although the financial crisis has posed unprecedented challenges to the world, it has also brought about historic opportunities for international cooperation.
To this end, China is exerting unremitting efforts to promote international cooperation, as it firmly believes that the hard winter will finally be over, and as long as the international community enhances confidence and steps up cooperation to reverse the tide of the global financial crisis.
Source: Xinhua
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