China cooperating in tackling financial crisis

Source: Xinhua | 04-03-2009 16:15

LONDON, April 3 (Xinhua) -- China has adopted a policy of global cooperation during the past few months as the international financial crisis continues to pose grave challenges to the world economy.

In one of its latest efforts, China, along with the world's other major economies, at the high-profile G20 summit here pledged to restore global confidence and seek sustainable economic recovery.

Faced with the crisis, China has made necessary policy adjustments at home, unveiling a number of fiscal stimulus packages and employing a policy of easing monetary restraints.

China also has acted as a responsible member of the international community by engaging in many bilateral and multilateral initiatives with an aim to restore the global economy.

WORKING WITHIN G20

China also has been working constructively within the G20 framework to calm the financial upheaval.

The crisis, though originating with the U.S. subprime mortgage crisis, has spread to the far corners of the world and has affected many industries apart from the financial sector.