Growth, stability top priority of G20: President Hu

LOS CABOS - Chinese President Hu Jintao said here Monday that at present, securing growth and promoting employment and stability should still be the top priority of G20 members.

Leaders of the G20 pose for a group photograph at the G20 Summit in Los Cabos June 18, 2012. G20 leaders will kick off two days of meetings in the Pacific resort of Los Cabos on Monday. [Photo/Agencies]

"The world economy has come to a critical juncture and the improvement of global economic governance is an arduous task. We should build on the achievement we have made and strive for new progress," said President Hu in a speech at a two-day summit of the Group of Twenty (G20), which started in the Mexican resort of Los Cabos on Monday.

The G20 summit is being convened at a time when the global economy is facing great risks to growth and stability. The prolonged eurozone debt crisis, slowdowns in major developed nations and even in emerging economies, and high unemployment in parts of the world are all posing threats to a fragile recovery.

At the Los Cabos meeting, the G20 leaders have been exchanging views on issues including the global economic situation, the strengthening of the international financial system, development, trade and employment.

"We must value the role and influence of the G20, keep in mind the general trend of the world economy, strengthen solidarity, coordination and cooperation, and work together to overcome whatever risks and challenges that may come our way and advance the development and prosperity of the whole world," the Chinese president said.

Leaders of the G20 nations gather for a group photo at the G20 summit in Los Cabos, Mexico, June 18, 2012. Pictured are (front row, L-R) US President Barack Obama, China's President Hu Jintao, Mexico's President Felipe Calderon, South Korea's President Lee Myung-bak, South Africa's President Jacob Zuma, (second row, L-R) Australia's Prime Minister Julia Gillard, Germany's Chancellor Angela Merkel, India's Prime Minister Manmohan Singh, British Prime Minister David Cameron, Canada's Prime Minister Stephen Harper and Japan's Prime Minister Yoshihiko Noda. [Photo/Agencies]

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