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Highlights of Sanya Declaration

Updated: 2011-04-15 09:21
( China Daily)

Int'l monetary system

The governing structure of the international financial institutions should reflect changes in the world economy and increase the voice and representation of emerging economies as well as developing countries.

Discussion of SDRs

We welcome the discussion about the role of SDR (special drawing rights) in the existing international monetary system, including the composition of SDR's basket of currencies.

Greater supervision

We call for further international financial regulatory oversight and supervision, strengthening policy coordination and financial regulation to promote sound development of global financial markets and banking systems.

Expanding capacities

The international community should work together to increase production capacity, strengthen producer- consumer dialogue to balance supply and demand while increasing support to developing countries.

Regional turbulence

We are deeply concerned with the turbulence in the Middle East, and the North African and West African regions and share the principle that the use of force should be avoided in resolving regional turbulence.

United Nations reform

We reaffirm the need for a comprehensive reform of the UN, including its Security Council, to make it "more effective, efficient and representative" in order to better deal with current global challenges.