China to contribute to world economy, eyes current account surplus cut+

YOKOHAMA, Nov. 13 Kyodo -
Chinese President Hu Jintao said Saturday that Beijing will take part in
promoting the sustainable development of the world economy and signaled his
intention to make efforts to cut the country's large current account surplus.
China will put great efforts into the development of its own economy and also
the global economy, and one way would be to take part in ''international
rulemaking in a responsible way,'' Hu said in a keynote speech at a business
forum ahead of the Asia-Pacific Economic Cooperation summit starting later
Saturday.
Hu also said that China regards it as a ''crucial task to promote the balance
of international payments to ensure macroeconomic stability.''
Hu told the forum, known as the APEC CEO Summit, that Beijing aims to ''tap the
potential of the domestic market'' and will continue reforming its exchange
rate in a ''controllable and fair manner.''
Some countries accuse China of deliberately undervaluing the yuan to give an
advantage to Chinese exports. Beijing rejects the accusation.
Hu also noted the vital role of emerging markets in the Asia-Pacific region,
including his own nation, in spurring the growth of the global economy.
==Kyodo
2010-11-13 23:52:31