Chinese President calls for joint efforts to tackle financial crisis

"The international financial system should undergo necessary reforms in an all-round, balanced, gradual and effective manner to prevent a similar crisis in the future," the president noted.

China as a responsible country would work with all the other parties attending the summit to help it yield "positive" and "practical" results, Hu said.

China pledged to give its own contribution to the recovery of world economy. The country would adhere to its fundamental national policy of opening up to the outside world and mutually beneficial and win-win strategies, Hu said.

A vigorous and more open China would not only benefit its own steady, fast growth, but help the international community fight the financial crisis and contribute to the world's peace and development, Hu said.

The country has set an 8 percent target for economic growth this year, still notably higher than the 1 percent world average estimated by the World Bank. China grew 9 percent in 2008, the slowest pace in seven years.