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China to focus on domestic demand
Published on: 2009-11-13
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SINGAPORE -- China is seeking to boost its domestic demand to help bolster a fledgling global recovery from the economic crisis, President Hu Jintao said Friday.


Beijing's focus in its crisis measures is to "expand domestic demand, especially consumer demand," Mr. Hu said in a speech on the sidelines of the Asia-Pacific Economic Cooperation forum's annual summit.


"The world economy has shown positive signs of stabilization and recovery, which will help us increase confidence and deepen cooperation," Mr. Hu said.
 

A key theme of the APEC meetings has been the need to shift world growth away from a reliance on U.S. consumers and Asian savers and to foster more domestic demand in Asia.


Mr. Hu said the global upturn isn't fully established and patterns of global growth are unsustainable.


He also said China rejects protectionism and called for an early and comprehensive agreement to the global Doha Round of trade negotiations. Developing countries should have a bigger voice in international financial institutions, he said.

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