WORLD Chinese finance official urges joint efforts for sustained, steady growth of world economy

WORLD

Chinese finance official urges joint efforts for sustained, steady growth of world economy

Xinhua

18:10, October 18, 2018

PORT MORESBY, Oct. 18 (Xinhua) - China's Vice Finance Minister Yu Weiping called for joint efforts to promote sustained and steady growth of the global economy at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers Meeting held here from Tuesday to Wednesday.

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(Photo: Xinhua)

Noting that the sound momentum has been sustained in the development of the world economy, Yu said rising trade protectionism and structural factors continue to constrain the medium and long-term development of the world economy.

The Asia-Pacific economies should firmly support multilateralism, jointly safeguard the rules-based multilateral trading system, continue to promote structural reform and enhance economic resilience and competitiveness, said Yu.

A joint statement from APEC finance ministers said, "To broaden and sustain the current expansion and raise medium-term growth prospects for the benefit of all, our economies must advance policies and reforms that increase productivity and strengthen the potential for inclusive growth."

"Financial inclusion is a fundamental building block of inclusive growth and development," it added. 

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