Global economic rebound 'not solid': Chinese president Hu

Chinese President Hu Jintao said Friday the global economic recovery from the worst financial crisis in decades was not solid yet, calling for stepped-up efforts by developed and emerging economies.

Although financial markets were moving towards stability, "we are soberly aware, however, that the foundation of an economic rebound is not yet solid, with many uncertainties remaining," Hu told his counterparts at the Group of 20 summit in Pittsburgh.

"A full economic recovery will take a slow and tortuous process," he told the meeting of leaders of the rich and emerging economies, including host US President Barack Obama.

Hu called on all countries to keep up the intensity of their economic stimulus plans that helped jolt the global economy from one of its most severe recessions and called for vigilance against any possibile "adverse impact" such as inflation resulting from the pump-priming measures.

"Both developed and developing economies should take more solid and effective measures and make greater effort to boost consumption and expand domestic demand," he said.

"We should stand firm in our commitment to stimulating economic growth."

Hu also sent a subtle message to the United States to rein in its ballooning budget deficit that has weakened the dollar.

"Major reserve currency-issuing countries should take into account and balance the implications of their monetary policies for both their own economies and the world economy with a view to upholding stability of international financial markets," he said.

Hu asked the G20 leaders to reject protectionism and not to impose "new restrictions" on goods, investment and services.

The United States angered China recently as its slapped steep duties on Chinese tire imports, prompting Beijing to lodge a complaint at the World Trade Organization.