Hu touches down for G20

President Hu Jintao is greeted by a Mexican senior official when he arrives in the Mexican resort city of Los Cabos on Saturday for a G20 summit, which will focus on global growth and stability. [Lan Hongguang / Xinhua]

Hopes that member states will improve coordination in economic policies

President Hu Jintao arrived on Saturday in Mexico for the G20 leadership summit, where he is scheduled to meet United States President Barack Obama.

Analysts said that China's stance on world economic problems and the state of China's domestic development, as conveyed by Hu's presence at the summit, will be prominent against the backdrop of sluggish world economy.

Following a three-day state visit to Denmark — the first ever by a Chinese leader — Hu arrived at Mexico's Pacific resort Los Cabos accompanied by a group of highlevel Chinese officials, including Vice-Premier Wang Qishan and several ministers.

Hu has attended every G20 leadership summit since the first in 2008.

In Los Cabos, Hu will join leaders of other countries in discussing world economic issues, presenting China's policies on key world and domestic economic issues.

China has said it hopes the summit will continue to promote growth and stability during the volatile world economic situation.

G20 member states should work together to overcome current difficulties and exhibit a spirit of win-win cooperation, Chinese Deputy Foreign Minister Cui Tiankai told a briefing earlier in Beijing.

The member states should, first and foremost, run their own affairs well and improve coordination on macroeconomic policies on the basis of respecting each other's national conditions and stages of development, Cui said.

China has always played a constructive role in the G20's efforts to deal with the international financial crisis and strengthen global economic cooperation, experts said.

Zhu Caihua, vice-dean of the School of International Economy under the China Foreign Affairs University, said that China gets increasing attention at such meetings as its booming economy is a great contribution to the world economy.

China is speeding up its development mode and maintaining stable momentum in economic growth, and flagging economies tend to turn to China for help to boost development, she said.

Eurozone crisis

The summit's topics include bolstering the G20's relevance, stabilization and structural reforms, and strengthening financial regulation.

But it is widely expected the summit will be dominated by concerns over the eurozone sovereign debt crisis, which could plunge the fragile global economy back into recession.

The rapidly worsening crisis, especially in Spain and Greece, will certainly be on the leaders' agenda.

The most worrying issue facing the G20 is the "deterioration in eurozone growth prospects and the heightened risk of a European banking failure", the Council on Foreign Relations website quoted James A. Haley of the Ontariobased Center for International Governance Innovation as saying.

Spain's decision to seek financial assistance to address the problems in its banking system underscores the gravity of the situation and the need for urgent action, said Haley.

On Wednesday, Beijing called on leaders at the G20 summit to express their confidence in Europe.

The world's economy faces recession and economic problems in Europe, a relatively isolated economic bloc, are more prominent, Zhu said, adding that G20 countries need to try for a timely and effective resolution to the eurozone crisis.

She also said that the problems of emerging economies, and giving them a greater say in an airs, should also be discussed during the summit.

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