Chinese president delivers key-note speech at APEC summit
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E-mail CNTV, September 8, 2012
Chinese President Hu Jintao has delivered a key-note speech on infrastructure for sustainable growth at the CEO summit of Asia-Pacific Economic Cooperation.
Reviewing the current world economy, Hu Jintao said that it is recovering slowly, and there are still some destabilizing factors and uncertainties. He also said the underlying impact of the international financial crisis is far from over, and some countries are confronted with complex and difficult sovereign debt problems. And protectionism is on the rise and the world economy is facing increasing downward risks. He added the Asia-Pacific has maintained sound momentum of growth and acquired a more important position and played a more prominent role in the world economy.
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| Chinese President Hu Jintao delivers his address during Asia-Pacific Economic Cooperation (APEC) CEO summit in Vladivostok on September 8, 2012. |
However, He said the impact that the grave challenges in the global economy are having on the region should not be overlooked. Addressing the need to upgrade infrastructure in the context of promoting stable growth and recovery, Hu Jintao elaborated on China's views and stances on building infrastructure for sustainable growth. The Chinese President also talked about China's current economic situation and economic policies during the speech.
Hu Jintao said China has focused on ensuring stable growth and price stability, adjusting economic structure, improving people's well-being, deepening reform and promoting harmony this year. These efforts have ensured the stable performance of China's economy, with its GDP, in the first half of the year, growing by 7.8 percent year on year and retail sales increasing by 14.4 percent.
Speaking of the challenges facing the Chinese economy, Hu Jintao said lack of balance, coordination and sustainability still weighed on the economic growth and notable downward pressure remained out there, especially for the small and medium sized enterprises and exporters. He added amid these challenges, China would continue a proactive fiscal policy and a prudent monetary policy, ensure continuity and stability of macroeconomic policies, and make macroeconomic regulation more targeted, flexible and forward-looking.
