(Xinhua News Agency) On July 9, Chinese President Hu Jintao expatiates on China’s stance in principle on topics such as food security while attending the outreach session of the Group of Eight (G8) in the northern Japanese resort of Toyako on Hokkaido island. He points out that all countries should recognize the cross-sectoral nature of the food issue and adopt a multi-pronged approach to address the issue by taking measures in intellectual property rights, technology transfer and other areas, thus creating a favorable environment for safeguarding food security.

President Hu puts forward the following suggestions on formulating long-term strategy of international grain cooperation. First, the world should attach importance to food production. All countries should recognize the fundamental importance of grain production from a strategic perspective, raise grain production through science and technology and increase grain reserves; second, measures should be taken to improve the trading environment. It is necessary to create a favorable international trading environment and establish a fair and equitable international trade order for agricultural products; third, efforts should be made to enhance macro coordination. Governments of all countries should strengthen oversight of their agricultural product markets, facilitate policy coordination, contain excessive speculations and work to stabilize food prices; fourth, all countries should work hard to create favorable conditions. All countries should recognize the cross-sectoral nature of the food issue and adopt a multi-pronged approach to address the issue by taking measures in finance, trade, assistance, the environment, intellectual property rights, technology transfer and other areas, thus creating a favorable environment for safeguarding food security.

In his speech, President Hu also puts forward suggestions on promoting the balanced, coordinative and sustainable development of the world economy and the Millennium Development Goals, and reviews and summarizes China’s experience and achievements of the 30 years’ of reform and opening up.