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China, Russia to enhance coordination

— Photo: Xinhua

Strategic partnership: Chinese President Hu Jintao (left) and his Russian counterpart Dmitry Medvedev at the G20 summit in Washington on Saturday.

WASHINGTON: Chinese President Hu Jintao said here on Saturday China and Russia should enhance communication and cooperation in eliminating the adverse effects of the financial crisis and maintain stability in their respective financial markets.

Mr. Hu made the remarks at a bilateral meeting with his Russian counterpart Dmitry Medvedev on the sidelines of the G-20 summit.

Noting the severity of the current financial crisis, Mr. Hu said though countries worldwide had already adopted a series of measures to cope with it, “the situation remains grim.” The crisis is quickly spreading across the world, from developed economies to developing ones, from the virtual economy to the real economy, bringing serious impacts on economic growth and people’s lives worldwide, said Mr. Hu.

It has also had a considerable impact on the Chinese economy, he said. In response to the crisis, China has adopted a proactive fiscal policy to maintain steady economic growth, he said.

Mr. Medvedev agreed with Mr. Hu’s views and said Russia’s economy is slowing down because of the “unprecedented” crisis.

The robust economic growth in China and Russia could better help the two nations ride out the crisis, he said, adding that Russia is ready to strengthen consultation and work with China to achieve the balanced growth of the world economy.

The two leaders also spoke highly of the smooth development of the Sino-Russian strategic partnership of cooperation.

Sino-Russian relations have maintained a good momentum of development, and mutual political trust between the two nations is also growing steadily, said Mr. Hu.

The final settlement of the border issue between China and Russia cleared away political obstacles for the sound development of bilateral ties, he added.

The two nations, Mr. Hu said, would continue to steadfastly support each other on major issues concerning their core interests and strengthen their strategic dialogue and coordination. Mr. Medvedev hailed the rapid growth in Sino-Russian relations in 2008, saying bilateral cooperation has been fruitful in various fields, including in energy. — Xinhua

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