Chinese president, other BRICS leaders meet ahead of G-20 summit

English.news.cn   2011-11-03

Chinese President Hu Jintao and leaders of Brazil, Russia, India and
South Africa hold a meeting in Cannes, France, Nov. 3, 2011. (Xinhua) 

CANNES, France, Nov. 3 (Xinhua) -- Chinese President Hu Jintao and leaders of Brazil, Russia, India and South Africa met Thursday in Cannes, France, ahead of the Group of 20 (G20) summit.

Hu said that the world's current economic situation is severe and complicated while the prominent sovereign debt issues in some developed countries have created turbulence in the financial markets.

Many developing countries also face inflationary pressure and world economic growth has slowed to some extent, Hu said during the meeting.

Under the current circumstances, Hu said, the G-20 countries should work together better to ride out the hard times and boost robust, sustainable and balanced growth of the world economy.

Both developed and developing countries should keep a balanced and relatively rapid economic growth, Hu said.

Only in this way, he said, could the world economy achieve recovering growth.

The Chinese president stressed that Europe is the largest economy in the world and the global economy can realize recovery only if Europe understands that.

China hopes Europe can achieve economic recovery and development as soon as possible, he said.

Hu also said that the solution of Europe's debt issues mainly relies on Europe itself. He said that China believes that Europe absolutely has the wisdom and ability to solve the issues while the international community should tender support and assistance.

The Chinese president suggested that the BRICS countries create a consultative mechanism to closely watch the development of the situation,exchange ideas on relevant issues and strengthen coordination.

At the meeting, the leaders of Brazil, Russia, India, China and South Africa, or BRICS, also discussed stronger cooperation among BRICS countries and exchanged views on the world economic situation and the debt issues in Europe.

The leaders agreed to maintain close communications and coordination and work together to make the G-20 summit generate positive results.

The Cannes G-20 summit, slated for Thursday and Friday, will address the major problems affecting the world economic recovery and the stability of the global financial market.

President Hu arrived in Cannes for the G-20 summit on Wednesday.

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