Chinese President Hu Jintao promised on April 2 that China will continue to contribute its share to world economic recovery.

"China will continue to work with the rest of the international community to enhance macroeconomic policy coordination, advance the reform of the international financial system, maintain the stability of the multilateral trading system and contribute its share to world economic recovery," Hu said at the second Group of 20 (G20) summit in London.

"As a responsible member of the international community, China has been actively involved in the international endeavor to fight the financial crisis," the Chinese president said.

In spite of great difficulties, China has kept its currency's exchange rate basically stable.

China has taken an active part in the Global Trade Finance Program of the International Finance Corporation and decided to provide US$1.5 billion as the first portion of its financial support to the Program, Hu noted.

"We support regional development banks in providing financing services, and we will continue to coordinate with international financial institutions and relevant countries to further strengthen multilateral, regional and bilateral cooperation in trade finance," he added.

China has sent large procurement missions abroad, demonstrating its firm commitment to staying open to the world and promoting global economic recovery, he said.

Hu also promised that China will continue to increase aid for Africa and reduce or cancel debts owed by African countries as its ability permits.

The Chinese president said that despite the continued adverse impact of the international financial crisis on China's real economy, "neither the fundamentals nor the positive long-term prospects of China's economy have changed in any major way, and the foundation supporting China's sustained and relatively fast economic growth remains solid."

Hu promised to continue to follow the basic policy of opening-up and unswervingly pursue a win-win strategy in opening to the outside world.

"A more dynamic and open China will be in a better position to not only maintain steady and relatively fast economic growth at home, but also contribute to the global efforts to tackle the financial crisis and promote world peace and development," he said.

(Xinhua News Agency April 3, 2009)