The Chinese leader said G20 nations should strengthen coordination of macroeconomic policies among them, support countries hit by the sovereign debt crisis in overcoming the current difficulties.

He also called for well managing the G20's relationship with other international organizations and multilateral mechanisms and ensuring that the G20 "plays a core role in promoting international economic cooperation and global economic governance."

Secondly, Hu said "we need to accelerate the establishment of a new international financial order that is fair, equitable, inclusive and well-managed," calling for the establishment of an international financial system "that is good for the growth of the real economy."

Hu said the G20 members need to bring the shadow banking system under supervision and regulation and formulate globally consistent accounting rules.

He also said the G20 nations need to enhance the IMF's capacity building and surveillance reform, and strengthen supervision over macroeconomic policies of various parties, particularly major reserve currency issuing economies.

Thirdly, the Chinese leader urges advancing "the building of an open and free global trading regime."

"We must take concrete actions to reject all forms of protectionism, and unequivocally advocate and support free trade," he said.
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