Chinese President addresses issues on world economy & food prices in outreach session of G8 summit

Chinese President, Hu Jintao, attended an outreach session of the G8 summit in the northern Japanese resort of Toyako today (Wednesday). Leaders from five major developing nations were there.

The world economy and food prices topped the agenda of Wednesday's G8 outreach session.

At the start of the meeting, Chinese President Hu Jintao expressed sincere thanks to the leaders for the sympathy and aid their countries have sent to China since the May 12th earthquake.

U.S. President George W. Bush, center right, and President
of China Hu Jintao hold talks at the G8 summit, Wednesday,
July 9, 2008 in the lakeside resort of Toyako on Japan's
northern island of Hokkaido.(AP Photo/Pablo Martinez Monsivais)

President Hu also made four proposals to promote balanced, coordinated and sustainable development of the world economy.

The proposals were to build a sustainable world economic system, an inclusive and international financial system, a fair and equitable international trade regime and a fair and effective global development system.

On the world's rising food prices, the Chinese president said the price hike is the combined "result of many factors."

He said blaming the development of developing countries or a certain policy of a certain country does not tally with the facts, nor is it a constructive attitude in solving the problem.

Hu Jintao said the key is to embrace the spirit of common development, actively and effectively coordinate policies and actions and make concerted efforts to safeguard world food security.

He said the pressing task now is "to scale up assistance, support the United Nations in playing its coordinating role, work to stabilize food prices and help developing countries to deal with difficulties as quickly as possible."

He also urged the international community to give priority to developing agriculture and formulate a long-term international food cooperation strategy.

The Chinese president says the country is ready to share more of its agricultural development expertise with other developing countries within the framework of South-South cooperation and provide various kinds of assistance.

On the sidelines of the outreach session, President Hu Jintao will meet other leaders attending the G8 meeting to exchange views on bilateral ties and issues of mutual concern.

Later in the day, Chinese President Hu Jintao attended the Major Economies Meeting on Energy Security and Climate Change in Toyako.

The meeting was attended by G8 leaders as well as China, Brazil, India, Mexico, South Africa, Australia, Indonesia and South Korea.

During the meeting, Hu Jintao suggested international negotiations play a positive role in fighting climate change. He also said the international community should establish an effective mechanism for tackling climate change.

The Chinese president arrived in Japan Monday and is scheduled to return home later Wednesday.