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Chinese, British PMs talk over phone about int'l financial crisis

(Xinhua)
Updated: 2008-10-14 22:12

BEIJING - Chinese Premier Wen Jiabao and his British counterpart Gordon Brown in a phone conversation Tuesday exchanged opinions on the current international financial crisis.

Wen said China paid great attention to the turmoil that the crisis had brought to the world, while speaking highly of the measures that the affected countries including Britain had taken to stabilize the financial markets.

He said despite still in its beginning stages, the Chinese financial industry has in recent years opened to the outside world steadily and the participation of Chinese financial institutions in international financial markets has been reinforced.

The long-term reform has strengthened Chinese financial institutions' anti-risk capability and the impact the current crisis has had on China is limited and controllable, Wen said.

He added that China is confident of safeguarding the stability of the domestic financial market.

The Chinese premier also noted that the international community should strengthen cooperation to fight the crisis.

China will take up flexible and cautious macroeconomic policies to maintain stability in the economy and finance and capital markets, which will contribute a lot to the world markets, he said.

Brown said the international community should make joint efforts to avoid global economic recession.

The international community should reach an agreement to remedy the weakness of the current global financial system and enhance the supervision of the banking system, transnational corporations and financial institutions.

The international community spoke highly of China's role in stabilizing the current international financial market and Britain would like to reinforce exchanges and cooperation with China in this field, he added.