China Imports The Next Five Years Will Exceed $ 8 Trillion
President Hu Jintao arrived in Cannes, France, 2, 3 and 4 to attend the Group of Twenty, held the leaders of the sixth summit.
According to Xinhua News Agency, Beijing, November 2 – In Cannes to attend the G20 summit, President Hu Jintao accepted the 2nd French “Le Figaro” written interview on France, China-EU relations, Twenty Group leaders summit in Cannes, the current world economic and financial situation and answered questions.
Hu pointed out that the G20 members should strengthen cooperation to jointly promote the world economy to achieve strong, sustainable and balanced growth. Cannes summit should focus on these objectives, to focus on three fronts. First, continue to promote solidarity, cooperation and win-win spirit. Second, the focus areas of the world’s major and urgent economic and financial challenges. Third, continue to focus on the development of North-South imbalance.
In response to China’s view on global economic rebalancing issue, Hu said the international community to objectively look at the strong growth, sustainable growth and balanced growth of all three relationships. Long-term goal of sustainable growth through economic restructuring to achieve balanced growth is an objective requirement, while strong growth is the primary task of the current world economy is to achieve balanced growth and sustainable growth of the premise. Of the Group of Twenty, the priority is to maintain growth, growth in demand in balance.
Hu pointed out that the international community should correctly understand the nature of the world economic imbalances. Imbalance is the world’s deep-seated problems of economic and financial external performance, and not the cause. Leading cause of structural imbalance, including the unbalanced structure of the world economy, international division of labor imbalances, the international monetary system imbalances. Solve the world economic imbalances need for countries to work together to carry out economic restructuring. This is a long process, not overnight.
Hu said the international financial crisis, China adopted a strong policy to stimulate domestic demand, average annual GDP growth of 9%, and imports and foreign investment to accelerate growth. The first three quarters of this year, China’s GDP growth of 9.4%, total retail sales of social consumer goods grew 17 percent, and imports amounted to $ 1.2851 trillion, an increase of 26.7%. The world economic recovery and growth has made important contributions. China is accelerating the transformation of economic growth, adjusting economic structure, building long-term mechanism to expand domestic demand and promote economic growth to depend on consumption, investment and exports change. China’s trade surplus to GDP ratio from 7.5% in 2007 down to 3.2% in 2010. The next five years, China’s consumption growth rate will remain at a high level, the total size is expected to import is expected than $ 8 trillion. This will be China’s economic development on the world economy.
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