Singapore: Chinese President Hu Jintao said Friday his government's stimulus measures are yielding global benefits and he promised further efforts with the world economy still in uncertain times.
"The series of measures China has adopted to counter the international financial crisis is conducive to the steady and relatively fast growth of the Chinese economy," Hu said in a
speech in Singapore.
China's stimulus has also helped "the international effort to alleviate the impact of the financial crisis and restore world economic growth", Hu said ahead of a weekend
summit of the Asia-Pacific Economic Cooperation forum.
The president added that the world economy "still faces many uncertainties and destabilising factors".
"China will further boost domestic demand, vigorously expand the domestic market, and promote balanced growth of domestic and external demand," he said.
His comments came a day after APEC finance ministers from the United States, China and 19 other economies rejected an early end to the huge stimulus packages they implemented to fight the global economic crisis.
Analysts say massive stimulus packages rolled out by Asian governments helped the region weather the downturn better than the United States or Europe.
The regional efforts have been led by USD 585 billion in spending by China, which also has maintained a loose monetary policy to encourage growth amid a domestic slowdown.
Bureau Report
First Published: Friday, November 13, 2009, 15:17