Chinese President Hu Jintao said on Saturday that international economic and trading regimes and rules should be improved to promote a balanced and orderly development of the world economy.

Hu made a speech with the title of "Strengthening Global Cooperation to Promote Common Development" in the opening ceremony of the G20 Finance Ministers and Central Bank Governors Meeting, which was held in Beijing.

Hu said to establish a fair and reasonable international economic order as well as sound international economic and trading regimes and rules is an important guarantee for the promotion of balanced and orderly development of the world economy.

"We should give vigorous support to efforts to improve the international financial institutions, build up international community's capacity to prevent and cope with crisis and to maintain financial stability and promote development, and create a fair, stable and efficient financial environment for the growth of world economy," he said.

"We need to make concerted efforts to stabilize the global energy market so as to forge an environment for adequate supply and safe, economical and clean use of energy to fuel world economic growth," he added.

"We should also energetically support the establishment of an open, fair, reasonable and non-discriminative multilateral trading system so as to create a sound trading environment for global economic growth to the benefit of all countries, developing countries in particular," he said.

The development of the multilateral trading system is now at a crucial stage, he said, adding that the outcome of the Doha Round will have a direct impact on promoting the balanced and orderly world economic development.

He said that parties concerned should display greater political sincerity and demonstrate necessary flexibility to vigorously push forward the Doha Round and work for substantive results at the Ministerial Meeting of the WTO at the end of this year.

China is ready to continue its consultation and cooperation with all parties concerned and work hard for the conclusion of the Doha Round in 2006 with comprehensive and balanced outcome, he said.

Source: Xinhua