CANNES, France, Nov. 4 (Xinhua) — Chinese President Hu Jintao on Friday delivered a speech at the G-20 summit on key issues such as the fluctuation of staple commodity prices, energy and food security and employment.
On the issue of the fluctuation of staple commodity prices, Hu noted that the G-20 needs to focus on the following three aspects:
First, seek a proper balance between the stabilization of staple commodity prices and the promotion of world economic growth.
The G-20 needs to adopt measures to expand productive capacity, stabilize supply and demand, strengthen supervision,increase the transparency of market transactions and curb speculation so as to maintain the stability of staple commodity prices at a reasonable level.
Second, achieve an equitable balance between the stability of staple commodity prices and the ensuring of global energy and food security.
The G-20 should take concerted actions in such areas as the real economy, and trade and finance, and establish an advanced promotion system for the research and development of energy and agricultural technologies, he said.
Hu said the G-20 should also build a fair, equitable and non-discriminatory international trading system so as to promote the sound, stable and orderly development of the international staple commodity market.
Third, strike a right balance between the stabilization of staple commodity prices and the promotion of international development and cooperation. The G-20 nations should promote technology transfers and financial support for the developing economies, and help them to ensure energy security and food security. More
