China contributing more to world economic growth: HuNovember 4th, 2011 - 7:08 am ICT by IANS
Cannes, Nov 4 (IANS) Chinese President Hu Jintao said Thursday that his country is making more contributions to the world economic growth as its economy has made strides in the past decade.
China has served as a huge market for other countries and its growth has added momentum to global economic recovery, said Hu during a speech at the G20 summit in this French seaside city.
After the outbreak of the global financial crisis, China substantially increased its financial contributions to international financial institutions and extended a helping hand to other developing countries, said the Chinese president.
China has also increased bond purchase from developed countries and played its part in assisting the economic and social development of relevant countries and stabilizing the international economic and financial situation, he said.
Meanwhile, China’s imports in this period aggregated $8.5 trillion, creating a huge market for other countries, he said, adding that in the coming five years, China’s imports are expected to exceed $8 trillion , which will be a major contribution to the global economy.
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