ASEM summit convenes 1st plenary session

WATCH VIDEO

Source: CCTV.com | 10-25-2008 09:00

As expected, the first plenary session of the ASEM summit focused on the global financial situation.

Premier Wen Jiabao presided over the first plenary session. (CCTV.com)

Premier Wen Jiabao presided over the first plenary session. He called on all ASEM members to work together to combat the global financial crisis. And the premier put forth a four-point proposal to do so.

Wen Jiabao, Chinese Premier, said, "Each member should first put their own house in order. Leaders should put the people's interest first and make determined, resolute, responsible and timely decisions. We should try to rebuild market confidence through necessary means. We should maintain economic growth, and at the same time, properly guide the public opinion to safeguard social stability."

Wen Jiabao also proposed to strengthen inter-governmental coordination, step up regional financial dialogue and push forward reform of international monetary and financial infrastructure.

Leaders from other countries also called for a coordinated response. French President Nicolas Sarkorzy hopes to win support from Asian countries in creation of a new global monetary and financial system.

Delegates arrive at the venue for the Asia-Europe Meeting (ASEM) in the Great Hall of the People in Beijing October 24, 2008.(David Gray/Reuters)

Nicolas Sarkorzy, French President, said, "At the upcoming summit on November 15th, Europe will speak with one voice. We will put forward our proposal which will be the result of our joint and serious consultation. We hope Asia will support us in this effort so that we can tell the world that the crisis will not happen again."

The meeting is expected to produce a Beijing Declaration and Chairman's Statement at the conclusion on Saturday to endorse major consensus reached.

"Achieving consensus among all 45 members is never easy, given their different interests and stances. But, they can still send a united message of confidence to reassure both investors and consumers around the world. And that's something money can't buy. Liu Ying & Liu Xiaonong, CCTV, at Great Hall of the People."

Editor:Zhang Pengfei