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China sees positive results at G20 Seoul summit

(Xinhua)
Updated: 2010-11-12 19:25

SEOUL - The Group of 20 (G20) summit that ended Friday has achieved positive results with concerted efforts from all participating nations, Chinese delegation spokesman Ma Zhaoxu said.

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Ma said that the world economy is gradually recovering, but uncertainties still remain, and that the Seoul summit witnessed the framework of G20 shifting its focus from emergency response to long-term economic governance.

Firstly, all member countries vowed to strengthen the role of the G20, and properly deal with the new risks and new challenges in the international financial sector so as to jointly boost the positive, sustainable and balanced growth of the global economy, Ma said.

Secondly, G20 leaders agreed to further promote reform of international financial institutions, and confirmed the 6-percent shift of quota shares to emerging economies in the International Monetary Fund, he said.

Thirdly, G20 leaders for the first time listed the issue of development as a major topic, and the summit endorsed the Multi-year Action Plan on Development over the medium term, Ma said.

And fourthly, based on the achievements made in previous summits, G20 leaders pledged continuous efforts to intensify financial regulation and combat trade-protectionism, and put forward a series of new measures and steps which will be conducive to the long-term healthy and steady development of the world economy, he said.