Economy

Markets

Industries

Insights

Reports

Events

China calls for faith, co-op in tackling crisis

(Xinhua)
Updated: 2009-01-29 08:41

Chinese Premier Wen Jiabao on Wednesday stressed confidence, cooperation and responsibility as key to overcoming the current global financial crisis.

Chinese Premier Wen Jiabao speaks at the World Economic Forum annual meeting, in Davos, Switzerland, on Jan 28, 2009. [Xinhua]

The global financial crisis is a challenge for the whole world, and the pressing task for the international community is "to take further measures to restore market confidence as soon as possible, " Wen told participants attending the World Economic Forum annual meeting in the Swiss skiing resort of Davos.

Special Coverage: Coping with Financial Crisis Related readings:  China, Switzerland agree to begin feasibility study on FTZ  Premier Wen meets with Swiss President  Premier's Europe tour underscores China's confidence  Davos forum to explore ways to save global economy

In tackling the crisis, confidence is the source of strength, practical cooperation the effective way and accepting responsibilities the prerequisite, he said in his special message at the forum.

"We should not only take more forceful and effective steps to tide over the current difficulties, but also push for the establishment of a new world economic order that is just, equitable, sound and stable," Wen said.

To this end, international economic cooperation and a sound multilateral trading regime should be promoted, and the reform of the international financial system should be advanced, he said.

It is also necessary to strengthen international cooperation in financial supervision and regulation to guard against the build-up and spread of financial risks, the Chinese premier said.

Wen said the interests of developing countries should be effectively protected and economic development of the whole world should be promoted.

Chinese Premier Wen Jiabao (L) answers questions after speaking at the World Economic Forum annual meeting, in Davos, Switzerland, on Jan 28, 2009. [Xinhua]

He also called for jointly tackling global challenges, such as climate change, environmental degradation, natural disasters and food security.

"No country can be insulated from these challenges or meet them on its own. The international community should intensify cooperation and respond to these challenges together," Wen said.

Wen, who is on a visit to Switzerland, traveled on Wednesday to Davos to attend the forum after meeting with President of the Swiss Confederation Hans-Rudolf Merz for talks on bilateral ties on Tuesday.

Switzerland is the first leg of Wen's European tour, which will later take him to Germany, the European Union headquarters, Spain and Britain.