China for closer cooperation with Russia

By Xinhua,

Washington : Chinese President Hu Jintao has called for closer China-Russia cooperation to maintain stability in their financial markets in the wake of the global economic meltdown.

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Hu made the remarks Saturday during a meeting with Russian President Dmitry Medvedev on the sidelines of the G-20 summit on the global economic crisis.

Noting the severity of the financial crisis, Hu said “the situation remains grim”. He said that it will have serious impact on economic growth and people’s lives worldwide, Hu said.

Medvedev agreed with Hu’s views and said Russia’s economy was slowing down because of the “unprecedented” crisis.

Hu is on a five-nation tour that, starting with the US, will take him to Costa Rica, Cuba, Peru and Greece.