China for concerted efforts to ease market turmoil

September 25th, 2008 - 3:13 pm ICT by IANS  

New York, Sep 25 (Xinhua) Chinese premier Wen Jiabao has called for concerted international efforts to maintain stability of the troubled global financial market.The rapid development of China-US economic and trade ties has brought huge benefits to both sides and also helped in boosting global economic growth, Wen said at a meeting here Wednesday with American economic and financial experts.

“It is of great importance that China and the United States strengthen dialogue and cooperation and strive to promote mutual trust at a time when the world economy faces a host of challenges,” the Chinese premier said.

Wen said that Beijing hopes the US would recognize China’s full market economy status and relax controls on high-tech exports to China so as to resolve the trade imbalance.

China is ready to expand cooperation with the US side in investment, energy, environmental protection and climate change, and work together to combat any form of trade protectionism, he said.

The US sub-prime loan crisis has triggered turmoil in the international financial market and the US government and the financial circles have already taken a series of measures to stabilize the domestic market, Wen said. He hoped these measures would yield positive results soon.

China will make timely adjustments to its policies in tune with the changed economic situation to maintain stability of its macroeconomy and domestic financial market, Wen said.

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