【答案解析】Now, the international financial crisis has spread from parts of the world to the entire globe, from the developed countries to the emerging markets, and from the financial sector to the real economy, which has exerted a big impact on the economic development and people's life worldwide. At such a crucial moment, it is of great significance for us to convene here to discuss measures on maintaining the international financial stability and promoting world's economic growth. // The ongoing international financial crisis has spread to encompass such a large area and has exerted such a deep anti intense impact that is unprecedented since the 30s of the last century. There are various reasons behind this financial crisis, involving both improper macroeconomic policies and insufficient financial regulation. Without correct understanding of those reasons, we will hardly be able to draw lessons from it and avoid similar crisis in the future. // Upon the occurrence of this financial crisis, the international society took prompt actions and adopted some countermeasures at different levels. We wish these measures would enable us to attain the results expected as soon as possible. To effectively cope with the financial crisis, countries in the world should enhance confidence, increase coordination and intensify cooperation. // The top priority of the international community is to take all the necessary measures to restore market confidence as soon as possible and curb the spread of the financial crisis. The major developed economies should undertake their due responsibilities and obligations, implement macroeconomic policies that are conducive to the economic and financial stability and growth both domestically and internationally, take active steps to stabilize their own and the international financial markets and safeguard investors' interests. Meanwhile, they should enhance macroeconomic policy coordination, expand economic and financial information sharing, and deepen cooperation in international financial regulation so as to create necessary conditions for stability in both the domestic and international financial markets. // At present, the slowdown of world's economic growth and the increase of uncertain and unstable factors aggravate and complicate the situation. To maintain economic growth is the cornerstone of addressing the financial crisis. Countries should readjust their macroeconomic policies, take necessary financial and monetary measures to actively promote economic development and avoid a global economic recession. Joint efforts should be made to stabilize the international energy and food markets, curb speculation and build an enabling environment for the growth of the world economy. The international community should pay special attention to preventing various forms of trade and investment protectionism and pushing for early progress of the Doha round of negotiations. // The international community should earnestly draw lessons from the financial crisis and make necessary reform of the international financial system based on full consultations among all stakeholders. Reform of the international financial system should aim at establishing a new international financial order that is fair, just, inclusive and orderly and fostering an institutional environment conducive to sound global economic development. //The reform should be conducted in a comprehensive, balanced, incremental and pragmatic manner. A comprehensive reform needs a general design which should not only focus on improving the international financial system, monetary system and financial institutions and international financial rules and procedures but also take into account the development stages and characteristics of different economies. // A balanced reform is based on overall consideration, seeks a balance among the interests of all parties and builds a decision-making and management mechanism with wider and more effective participation. An incremental reform is one that seeks gradual progress and should proceed in a phased manner, starting with the easier issues, and achieve the final objectives of reform through sustained efforts under the precondition of maintaining stability of the international financial market. A pragmatic reform is one that stresses practical results. All reform measures should contribute to the international financial stability, the global economic growth and the welfare of people in all countries. // Based on those considerations, China proposes implementing the following reform measures: 1) stepping up international cooperation in financial regulation and improving the international regulatory system; 2) advancing reform of the international financial organizations and increasing the representative ness and say of the developing countries in such organizations; 3) encouraging regional financial cooperation and making best use of the regional fund assistance mechanisms; 4) improving the international currency system and steadily promoting the diversity of the international monetary system. // (Excerpt from the speech delivered by Hu Jintao at the G20 Summit on Financial Markets and the World Economy in Washington, Nov. 16th, 2008)