第一篇:G20峰會(huì)宣言全文(中英文)
G20峰會(huì)宣言全文(中英文)2009-04-12 15:351、在世界經(jīng)濟(jì)和金融市場(chǎng)遭遇嚴(yán)重挑戰(zhàn)時(shí),我們即二十國集團(tuán)領(lǐng)導(dǎo)人于2008年11月15日在美國華盛頓舉行了一次初步會(huì)議。我們決定增強(qiáng)相互合作,努力恢復(fù)全球經(jīng)濟(jì)增長,實(shí)現(xiàn)全球金融體系的必要改革。
2、在過去幾個(gè)月,我們各國采取了緊急和特別措施以支撐全球經(jīng)濟(jì)和穩(wěn)定金融市場(chǎng)。這些努力必須要繼續(xù)下去。同時(shí),我們必須推進(jìn)改革以確保全球性的危機(jī)比如這次危機(jī)不再發(fā)生。我們的工作將遵循一個(gè)共同信念,即市場(chǎng)原則、開放的貿(mào)易和投資體制、受到有效監(jiān)管的金融市場(chǎng),將培養(yǎng)活力、創(chuàng)新和創(chuàng)業(yè)精神,這些是經(jīng)濟(jì)增長、就業(yè)和減少貧困所不可缺少的基本因素。
目前危機(jī)根源
3、在經(jīng)濟(jì)高速增長時(shí)期,資本流動(dòng)性日益增長并且此前十年保持著長期穩(wěn)定性,市場(chǎng)參與者過度追逐高收益,缺乏風(fēng)險(xiǎn)評(píng)估和未能履行相應(yīng)責(zé)任。同時(shí),脆弱的保險(xiǎn)業(yè)標(biāo)準(zhǔn)、不健全的風(fēng)險(xiǎn)管理行為、日益復(fù)雜和不透明的金融產(chǎn)品以及由此引發(fā)的過度影響,最終產(chǎn)生了體系的脆弱性。在一些發(fā)達(dá)國家,決策者、監(jiān)管機(jī)構(gòu)和管理者沒有充分地意識(shí)到并且采取措施應(yīng)對(duì)金融市場(chǎng)正在擴(kuò)大的風(fēng)險(xiǎn),未能及時(shí)實(shí)施金融革新或者未能考慮本國監(jiān)管不力所產(chǎn)生的后果。
4、除了其它原因以外,導(dǎo)致當(dāng)前形勢(shì)主要因素是不一致和不夠協(xié)調(diào)的宏觀經(jīng)濟(jì)政策、不充分的結(jié)構(gòu)改革,這阻礙了全球宏觀經(jīng)濟(jì)可持續(xù)發(fā)展,導(dǎo)致風(fēng)險(xiǎn)過度,最終引發(fā)嚴(yán)重的市場(chǎng)混亂。
采取和需要采取的措施
5、截止目前為止,我們已經(jīng)采取了強(qiáng)有力的重要措施,以刺激經(jīng)濟(jì),提供流動(dòng)性,增強(qiáng)金融機(jī)構(gòu)的資本,保護(hù)儲(chǔ)蓄存款,彌補(bǔ)監(jiān)管不力,解凍信貸市場(chǎng)。我們正在努力確保國際金融機(jī)構(gòu)能夠向全球經(jīng)濟(jì)提供重要的支持。
6、為了穩(wěn)定金融市場(chǎng)和支持經(jīng)濟(jì)增長,還有更多的工作需要做。經(jīng)濟(jì)發(fā)展勢(shì)頭在主要經(jīng)濟(jì)體正在大幅度地減弱,全球經(jīng)濟(jì)發(fā)展預(yù)期下滑。過去十年對(duì)全球經(jīng)濟(jì)發(fā)展作出貢獻(xiàn)的許多新興市場(chǎng)經(jīng)濟(jì)體,當(dāng)前盡管享受著良好的增長,但是正在日益受到全球經(jīng)濟(jì)下滑所帶來的不利影響。
7、面對(duì)全球經(jīng)濟(jì)惡化形勢(shì),我們同意在緊密的宏觀經(jīng)濟(jì)合作基礎(chǔ)上采取廣泛而必要的應(yīng)對(duì)政策,以恢復(fù)經(jīng)濟(jì)增長,避免消極后果,支持新興市場(chǎng)經(jīng)濟(jì)體和發(fā)展中國際。作為實(shí)現(xiàn)這些目標(biāo)和應(yīng)對(duì)長期挑戰(zhàn)而立即采取的措施,我們將繼續(xù)加強(qiáng)努力并且實(shí)施任何必要的更進(jìn)一步的行動(dòng),以穩(wěn)定金融體系。
認(rèn)可貨幣政策支持的重要性,就同在本國所認(rèn)可的一樣。
在保持有助于金融可持續(xù)性發(fā)展政策架構(gòu)同時(shí),利用財(cái)政措施刺激國內(nèi)需求。幫助新興市場(chǎng)和發(fā)展中國家經(jīng)濟(jì)體在當(dāng)前金融困難時(shí)期獲得資金支持,其中包括流動(dòng)性能力和項(xiàng)目支持。我們強(qiáng)調(diào)國際貨幣基金組織(IMF)在應(yīng)對(duì)危機(jī)方面的重要作用,歡迎它的短期流動(dòng)性支持,推進(jìn)正在進(jìn)行的對(duì)其設(shè)施和支持的評(píng)審,以確保靈活性。
鼓勵(lì)世界銀行(World Bank)和其他多邊開發(fā)銀行(MDB)全力支持開發(fā)計(jì)劃,我們對(duì)世界銀行最近在基礎(chǔ)設(shè)施和貿(mào)易融資領(lǐng)域所推出的新措施。
確保國際貨幣基金組織、世界銀行和其它多邊開發(fā)銀行,具有充分的資源在克服危機(jī)中繼續(xù)扮演重要角色。
金融市場(chǎng)改革的共同原則
8、除采取上述措施以外,我們將實(shí)施改革。這些改革將加強(qiáng)金融市場(chǎng)和監(jiān)管體系,以避免危機(jī)再次發(fā)生。管理是各國監(jiān)管機(jī)構(gòu)防御市場(chǎng)動(dòng)蕩的首要職責(zé),我們的金融市場(chǎng)已經(jīng)全球一體化,因此增強(qiáng)監(jiān)管機(jī)構(gòu)的國際合作,強(qiáng)化必須的國際標(biāo)準(zhǔn)并且予以切實(shí)執(zhí)行顯得非常必要,這樣才能防止不利的跨邊境、跨地區(qū)和全球性的影響全球發(fā)展的國際性金融混亂的出現(xiàn)。監(jiān)管者必須確保他們的行動(dòng)支持市場(chǎng)原則,避免對(duì)其它國家產(chǎn)生可能的不利影響,其中包括監(jiān)管套利行為和支持市場(chǎng)競(jìng)爭(zhēng)、活力和創(chuàng)新。金融機(jī)構(gòu)對(duì)當(dāng)前市場(chǎng)混亂也必須承擔(dān)責(zé)任,應(yīng)當(dāng)盡自己職責(zé)克服現(xiàn)狀,包括承擔(dān)虧損,改善透明性,加強(qiáng)自己管理和風(fēng)險(xiǎn)管理。
9、我們承諾執(zhí)行與以下改革共同原則相關(guān)的政策。
·增強(qiáng)透明性和責(zé)任性。我們將增強(qiáng)金融市場(chǎng)透明度,其中包括提高復(fù)雜的金融產(chǎn)品必須的透明性,確保公司財(cái)務(wù)狀況完全和準(zhǔn)確無誤的公開。其目的是防范官員過度冒險(xiǎn)。
·增強(qiáng)有效管理。我們承諾加強(qiáng)我們的監(jiān)管體系,謹(jǐn)慎監(jiān)督和強(qiáng)化風(fēng)險(xiǎn)管理,確保所有金融市場(chǎng)、產(chǎn)品和參與者受到管理或者接受監(jiān)督。我們將強(qiáng)化對(duì)信用評(píng)級(jí)機(jī)構(gòu)的監(jiān)管,加強(qiáng)對(duì)國際行為準(zhǔn)則的執(zhí)行。在確保監(jiān)管有效的同時(shí),我們還將使監(jiān)管體系在經(jīng)濟(jì)發(fā)展周期中更加有效率,確保創(chuàng)新并且刺激金融產(chǎn)品及服務(wù)中交易的擴(kuò)展。我們承諾我們國家監(jiān)管體系評(píng)估透明。
·促進(jìn)金融市場(chǎng)誠信。我們承諾,通過對(duì)投資者和消費(fèi)者保護(hù)給予支持、避免損害公眾利益行為發(fā)生、預(yù)防非法的操縱市場(chǎng)行為和欺騙以及權(quán)力濫用行為,保護(hù)合法的金融風(fēng)險(xiǎn)。我們還將促進(jìn)信息共享,其中包括尚未承諾實(shí)施關(guān)于銀行保密性和透明度國際標(biāo)準(zhǔn)的地區(qū)。
·加強(qiáng)國際合作。我們呼吁,我們的國家和區(qū)域性監(jiān)管機(jī)構(gòu)在遵循一致性原則基礎(chǔ)上制定規(guī)章以及其他措施。監(jiān)管機(jī)構(gòu)將加強(qiáng)他們同金融市場(chǎng)所有層面的協(xié)調(diào)和合作,其中包括跨國境的資本流動(dòng)。作為首先要做的事情,監(jiān)管者和其它相關(guān)當(dāng)局應(yīng)當(dāng)在防范危機(jī)、加強(qiáng)管理和應(yīng)對(duì)措施上加強(qiáng)合作。
·改革國際金融機(jī)構(gòu)。我們承諾,推進(jìn)布雷頓森林機(jī)構(gòu)(Bretton Woods Institutions)改革,以便他們?cè)谌蚪?jīng)濟(jì)中能夠更加充分地反映不斷變化的經(jīng)濟(jì)權(quán)數(shù),提高其正確性和有效性。在這方面,新興市場(chǎng)和發(fā)展中國家經(jīng)濟(jì)體,其中包括最貧窮國家,將有更多的話語權(quán)和代表權(quán)。金融穩(wěn)定論壇(Financial Stability Forum,F(xiàn)SF)成員急需向新興經(jīng)濟(jì)體擴(kuò)展,其它主要標(biāo)準(zhǔn)制定機(jī)構(gòu)必須迅速重新審定他們的會(huì)員組成。國際貨幣基金組織要同F(xiàn)SF及其它機(jī)構(gòu)合作,更好地認(rèn)識(shí)脆弱,預(yù)測(cè)潛在壓力,迅速采取行動(dòng)在應(yīng)對(duì)危機(jī)中發(fā)揮重要作用。
部長和專家的任務(wù)
10、我們承諾,迅速行動(dòng)貫徹這些原則。我們將要求我們的財(cái)政部長啟動(dòng)程序并且排出行動(dòng)時(shí)間表。一份具體措施的最初目錄將以附件“行動(dòng)計(jì)劃”形式推出,其中包括要在2009年3月31日之前先要完成的行動(dòng)。
經(jīng)與其它經(jīng)濟(jì)體和現(xiàn)有機(jī)構(gòu)磋商并且吸取知名獨(dú)立專家的建議,我們將要求我們的財(cái)政部長拿出更多的意見,其中包括以下具體方面:
·有利于緩解周期性波動(dòng)的調(diào)控政策;
·評(píng)估和修訂全球會(huì)計(jì)標(biāo)準(zhǔn);
·增強(qiáng)信用衍生產(chǎn)品市場(chǎng)彈性和透明度,減少系統(tǒng)性風(fēng)險(xiǎn),其中包括通過改善場(chǎng)外交易市場(chǎng)基礎(chǔ)設(shè)施;
·評(píng)估獎(jiǎng)勵(lì)措施,這涉及風(fēng)險(xiǎn)產(chǎn)生激勵(lì)和創(chuàng)新;
·評(píng)估國際金融機(jī)構(gòu)授權(quán)、管理和資源要求;
·界定系統(tǒng)性的重要性機(jī)構(gòu)范圍,決定他們適當(dāng)?shù)墓芾砗捅O(jiān)督。
11、為了解我們?cè)诮鹑谙到y(tǒng)改革中發(fā)揮的作用,我們將于2009年5月之前再次召開會(huì)議,檢查今天同意的這些原則和決定的執(zhí)行情況。
承諾全球經(jīng)濟(jì)開放
12、如果致力于推動(dòng)自由市場(chǎng)原則,這些原則包括法制、尊重私有財(cái)產(chǎn)、開放的貿(mào)易和投資、競(jìng)爭(zhēng)市場(chǎng)和受到有效監(jiān)管并且有效率的金融系統(tǒng),我們覺得這些改革只能成功。這些原則對(duì)經(jīng)濟(jì)增長和繁榮是必須的,并且已經(jīng)消除了數(shù)以百萬計(jì)的貧窮,而且也提高了全球生活標(biāo)準(zhǔn)。鑒于改善全球金融業(yè)管理的必要性,我們必須過度管理,否則將損害經(jīng)濟(jì)經(jīng)濟(jì)增長并且加深資本流動(dòng)性緊縮,這其中包括對(duì)發(fā)展中國家。
13、我們強(qiáng)調(diào),在金融不穩(wěn)定時(shí)期反對(duì)保護(hù)主義至關(guān)重要。未來12個(gè)月,我們將反對(duì)抬高投資或貨物及服務(wù)貿(mào)易新壁壘,反對(duì)設(shè)置出口新限定或?qū)嵤┯羞`世界貿(mào)易組織規(guī)定的措施來刺激出口。另外,我們將努力在今年達(dá)成協(xié)議,使得世界貿(mào)易組織多哈發(fā)展議程(Doha Development Agenda)有一個(gè)圓滿結(jié)果。我們將指示我們的貿(mào)易部長實(shí)現(xiàn)這一目標(biāo),推進(jìn)最終協(xié)議的達(dá)成。
14、我們關(guān)注著當(dāng)前危機(jī)對(duì)發(fā)展中國家產(chǎn)生的影響,特別是關(guān)注最易受損害的國家。我們重申千年發(fā)展目標(biāo)的重要性,這是我們已經(jīng)實(shí)施的發(fā)展援助承諾。我們將力促發(fā)達(dá)國家和新興經(jīng)濟(jì)體都來承擔(dān)與自己能力和在全球經(jīng)濟(jì)發(fā)展中扮演角色相適應(yīng)的義務(wù)。在這點(diǎn)上,我們重申2002年在墨西哥蒙特雷舉行的聯(lián)合國發(fā)展籌資問題會(huì)議上達(dá)成的發(fā)展原則,這一原則強(qiáng)調(diào)了國家所有權(quán)并且動(dòng)員了發(fā)展籌資的所有資源。
15、我們將繼續(xù)致力于解決其它重要的挑戰(zhàn),如能源安全和氣候變化、糧食安全、法治、反恐、貧困和疾病。
16、隨著向前發(fā)展,我們相信通過持續(xù)的伙伴關(guān)系、合作和多邊主義,我們將戰(zhàn)勝挑戰(zhàn),恢復(fù)世界經(jīng)濟(jì)穩(wěn)定與繁榮。
英文全文(來源:21世紀(jì)網(wǎng))
DECLARATION :SUMMIT ON FINANCIAL MARKETS AND THE WORLD ECONOMY
1.We, the Leaders of the Group of Twenty, held an initial meeting in Washington on November 15, 2008, amid serious challenges to the world economy and financial markets.We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world’s financial systems.2.Over the past months our countries have taken urgent and exceptional measures to support the global economy and stabilize financial markets.These efforts must continue.At the same time, we must lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again.Our work will be guided by a shared belief that market principles, open trade and investment regimes, and effectively regulated financial markets foster the dynamism, innovation, and entrepreneurship that are essential for economic growth, employment, and poverty reduction.Root Causes of the Current Crisis
3.During a period of strong global growth, growing capital flows, and prolonged stability earlier this decade, market participants sought higher yields without an adequate appreciation of the risks and failed to exercise proper due diligence.At the same time, weak underwriting standards, unsound risk management practices, increasingly complex and opaque financial products, and consequent excessive leverage combined to create vulnerabilities in the system.Policy-makers, regulators and supervisors, in some advanced countries, did not adequately appreciate and address the risks building up in financial markets, keep pace with financial innovation, or take into account the systemic ramifications of domestic regulatory actions.4.Major underlying factors to the current situation were, among others, inconsistent and insufficiently coordinated macroeconomic policies, inadequate structural reforms, which led to unsustainable global macroeconomic outcomes.These developments, together, contributed to excesses and ultimately resulted in severe market disruption.Actions Taken and to Be Taken 5.We have taken strong and significant actions to date to stimulate our economies, provide liquidity, strengthen the capital of financial institutions, protect savings and deposits, address regulatory deficiencies, unfreeze credit markets, and are working to ensure that international financial institutions(IFIs)can provide critical support for the global economy.6.But more needs to be done to stabilize financial markets and support economic growth.Economic momentum is slowing substantially in major economies and the global outlook has weakened.Many emerging market economies, which helped sustain the world economy this decade, are still experiencing good growth but increasingly are being adversely impacted by the worldwide slowdown.7.Against this background of deteriorating economic conditions worldwide, we agreed that a broader policy response is needed, based on closer macroeconomic cooperation, to restore growth, avoid negative spillovers and support emerging market economies and developing countries.As immediate steps to achieve these objectives, as well as to address longer-term challenges, we will:
Continue our vigorous efforts and take whatever further actions are necessary to stabilize the financial system.Recognize the importance of monetary policy support, as deemed appropriate to domestic conditions.Use fiscal measures to stimulate domestic demand to rapid effect, as appropriate, while maintaining a policy framework conducive to fiscal sustainability.Help emerging and developing economies gain access to finance in current difficult financial conditions, including through liquidity facilities and program support.We stress the International Monetary Fund’s(IMF)important role in crisis response , welcome its new short-term liquidity facility, and urge the ongoing review of its instruments and facilities to ensure flexibility.Encourage the World Bank and other multilateral development banks(MDBs)to use their full capacity in support of their development agenda, and we welcome the recent introduction of new facilities by the World Bank in the areas of infrastructure and trade finance.Ensure that the IMF, World Bank and other MDBs have sufficient resources to continue playing their role in overcoming the crisis.Common Principles for Reform of Financial Markets
8.In addition to the actions taken above, we will implement reforms that will strengthen financial markets and regulatory regimes so as to avoid future crises.Regulation is first and foremost the responsibility of national regulators who constitute the first line of defense against market instability.However, our financial markets are global in scope, therefore, intensified international cooperation among regulators and strengthening of international standards, where necessary, and their consistent implementation is necessary to protect against adverse cross-border, regional and global developments affecting international financial stability.Regulators must ensure that their actions support market discipline, avoid potentially adverse impacts on other countries, including regulatory arbitrage, and support competition, dynamism and innovation in the marketplace.Financial institutions must also bear their responsibility for the turmoil and should do their part to overcome it including by recognizing losses, improving disclosure and strengthening their governance and risk management practices.9.We commit to implementing policies consistent with the following common principles for reform.Strengthening Transparency and Accountability: We will strengthen financial market transparency, including by enhancing required disclosure on complex financial products and ensuring complete and accurate disclosure by firms of their financial conditions.Incentives should be aligned to avoid excessive risk-taking.Enhancing Sound Regulation: We pledge to strengthen our regulatory regimes, prudential oversight, and risk management, and ensure that all financial markets, products and participants are regulated or subject to oversight, as appropriate to their circumstances.We will exercise strong oversight over credit rating agencies, consistent with the agreed and strengthened international code of conduct.We will also make regulatory regimes more effective over the economic cycle, while ensuring that regulation is efficient, does not stifle innovation, and encourages expanded trade in financial products and services.We commit to transparent assessments of our national regulatory systems.Promoting Integrity in Financial Markets: We commit to protect the integrity of the world’s financial markets by bolstering investor and consumer protection, avoiding conflicts of interest, preventing illegal market manipulation, fraudulent activities and abuse, and protecting against illicit finance risks arising from non-cooperative jurisdictions.We will also promote information sharing, including with respect to jurisdictions that have yet to commit to international standards with respect to bank secrecy and transparency.Reinforcing International Cooperation: We call upon our national and regional regulators to formulate their regulations and other measures in a consistent manner.Regulators should enhance their coordination and cooperation across all segments of financial markets, including with respect to cross-border capital flows.Regulators and other relevant authorities as a matter of priority should strengthen cooperation on crisis prevention, management, and resolution.Reforming International Financial Institutions: We are committed to advancing the reform of the Bretton Woods Institutions so that they can more adequately reflect changing economic weights in the world economy in order to increase their legitimacy and effectiveness.In this respect, emerging and developing economies, including the poorest countries, should have greater voice and representation.The Financial Stability Forum(FSF)must expand urgently to a broader membership of emerging economies, and other major standard setting bodies should promptly review their membership.The IMF, in collaboration with the expanded FSF and other bodies, should work to better identify vulnerabilities, anticipate potential stresses, and act swiftly to play a key role in crisis response.Tasking of Ministers and Experts
10.We are committed to taking rapid action to implement these principles.We instruct our Finance Ministers, as coordinated by their 2009 G-20 leadership(Brazil, UK, Republic of Korea), to initiate processes and a timeline to do so.An initial list of specific measures is set forth in the attached Action Plan, including high priority actions to be completed prior to March 31, 2009.In consultation with other economies and existing bodies, drawing upon the recommendations of such eminent independent experts as they may appoint, we request our Finance Ministers to formulate additional recommendations, including in the following specific areas:
Mitigating against pro-cyclicality in regulatory policy;
Reviewing and aligning global accounting standards, particularly for complex securities in times of stress;
Strengthening the resilience and transparency of credit derivatives markets and reducing their systemic risks, including by improving the infrastructure of over-the-counter markets;
Reviewing compensation practices as they relate to incentives for risk taking and innovation;
Reviewing the mandates, governance, and resource requirements of the IFIs;and
Defining the scope of systemically important institutions and determining their appropriate regulation or oversight.11.In view of the role of the G-20 in financial systems reform, we will meet again by April 30, 2009, to review the implementation of the principles and decisions agreed today.Commitment to an Open Global Economy
12.We recognize that these reforms will only be successful if grounded in a commitment to free market principles, including the rule of law, respect for private property, open trade and investment, competitive markets, and efficient, effectively regulated financial systems.These principles are essential to economic growth and prosperity and have lifted millions out of poverty, and have significantly raised the global standard of living.Recognizing the necessity to improve financial sector regulation, we must avoid over-regulation that would hamper economic growth and exacerbate the contraction of capital flows, including to developing countries.13.We underscore the critical importance of rejecting protectionism and not turning inward in times of financial uncertainty.In this regard, within the next 12 months, we will refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organization(WTO)inconsistent measures to stimulate exports.Further, we shall strive to reach agreement this year on modalities that leads to a successful conclusion to the WTO’s Doha Development Agenda with an ambitious and balanced outcome.We instruct our Trade Ministers to achieve this objective and stand ready to assist directly, as necessary.We also agree that our countries have the largest stake in the global trading system and therefore each must make the positive contributions necessary to achieve such an outcome.14.We are mindful of the impact of the current crisis on developing countries, particularly the most vulnerable.We reaffirm the importance of the Millennium Development Goals, the development assistance commitments we have made, and urge both developed and emerging economies to undertake commitments consistent with their capacities and roles in the global economy.In this regard, we reaffirm the development principles agreed at the 2002 United Nations Conference on Financing for Development in Monterrey, Mexico, which emphasized country ownership and mobilizing all sources of financing for development.15.We remain committed to addressing other critical challenges such as energy security and climate change, food security, the rule of law, and the fight against terrorism, poverty and disease.16.As we move forward, we are confident that through continued partnership, cooperation, and multilateralism, we will overcome the challenges before us and restore stability and prosperity to the world economy.Action Plan to Implement Principles for Reform
This Action Plan sets forth a comprehensive work plan to implement the five agreed principles for reform.Our finance ministers will work to ensure that the taskings set forth in this Action Plan are fully and vigorously implemented.They are responsible for the development and implementation of these recommendations drawing on the ongoing work of relevant bodies, including the International Monetary Fund(IMF), an expanded Financial Stability Forum(FSF), and standard setting bodies.Strengthening Transparency and Accountability
Immediate Actions by March 31, 2009
The key global accounting standards bodies should work to enhance guidance for valuation of securities, also taking into account the valuation of complex, illiquid products, especially during times of stress.Accounting standard setters should significantly advance their work to address weaknesses in accounting and disclosure standards for off-balance sheet vehicles.Regulators and accounting standard setters should enhance the required disclosure of complex financial instruments by firms to market participants.With a view toward promoting financial stability, the governance of the international accounting standard setting body should be further enhanced, including by undertaking a review of its membership, in particular in order to ensure transparency, accountability, and an appropriate relationship between this independent body and the relevant authorities.Private sector bodies that have already developed best practices for private pools of capital and/or hedge funds should bring forward proposals for a set of unified best practices.Finance Ministers should assess the adequacy of these proposals, drawing upon the analysis of regulators, the expanded FSF, and other relevant bodies.Medium-term actions
The key global accounting standards bodies should work intensively toward the objective of creating a single high-quality global standard.Regulators, supervisors, and accounting standard setters, as appropriate, should work with each other and the private sector on an ongoing basis to ensure consistent application and enforcement of high-quality accounting standards.Financial institutions should provide enhanced risk disclosures in their reporting and disclose all losses on an ongoing basis, consistent with international best practice, as appropriate.Regulators should work to ensure that a financial institution’ financial statements include a complete, accurate, and timely picture of the firm’s activities(including off-balance sheet activities)and are reported on a consistent and regular basis.Enhancing Sound Regulation Regulatory Regimes
Immediate Actions by March 31, 2009
The IMF, expanded FSF, and other regulators and bodies should develop recommendations to mitigate pro-cyclicality, including the review of how valuation and leverage, bank capital, executive compensation, and provisioning practices may exacerbate cyclical trends.Medium-term actions
To the extent countries or regions have not already done so, each country or region pledges to review and report on the structure and principles of its regulatory system to ensure it is compatible with a modern and increasingly globalized financial system.To this end, all G-20 members commit to undertake a Financial Sector Assessment Program(FSAP)report and support the transparent assessments of countries’ national regulatory systems.The appropriate bodies should review the differentiated nature of regulation in the banking, securities, and insurance sectors and provide a report outlining the issue and making recommendations on needed improvements.A review of the scope of financial regulation, with a special emphasis on institutions, instruments, and markets that are currently unregulated, along with ensuring that all systemically-important institutions are appropriately regulated, should also be undertaken.National and regional authorities should review resolution regimes and bankruptcy laws in light of recent experience to ensure that they permit an orderly wind-down of large complex cross-border financial institutions.Definitions of capital should be harmonized in order to achieve consistent measures of capital and capital adequacy.Prudential Oversight
Immediate Actions by March 31, 2009
Regulators should take steps to ensure that credit rating agencies meet the highest standards of the international organization of securities regulators and that they avoid conflicts of interest, provide greater disclosure to investors and to issuers, and differentiate ratings for complex products.This will help ensure that credit rating agencies have the right incentives and appropriate oversight to enable them to perform their important role in providing unbiased information and assessments to markets.The international organization of securities regulators should review credit rating agencies’ adoption of the standards and mechanisms for monitoring compliance.Authorities should ensure that financial institutions maintain adequate capital in amounts necessary to sustain confidence.International standard setters should set out strengthened capital requirements for banks’ structured credit and securitization activities.Supervisors and regulators, building on the imminent launch of central counterparty services for credit default swaps(CDS)in some countries, should: speed efforts to reduce the systemic risks of CDS and over-the-counter(OTC)derivatives transactions;insist that market participants support exchange traded or electronic trading platforms for CDS contracts;expand OTC derivatives market transparency;and ensure that the infrastructure for OTC derivatives can support growing volumes.Medium-term actions
Credit Ratings Agencies that provide public ratings should be registered.Supervisors and central banks should develop robust and internationally consistent approaches for liquidity supervision of, and central bank liquidity operations for, cross-border banks.Risk Management
Immediate Actions by March 31, 2009
Regulators should develop enhanced guidance to strengthen banks’ risk management practices, in line with international best practices, and should encourage financial firms to reexamine their internal controls and implement strengthened policies for sound risk management.Regulators should develop and implement procedures to ensure that financial firms implement policies to better manage liquidity risk, including by creating strong liquidity cushions.Supervisors should ensure that financial firms develop processes that provide for timely and comprehensive measurement of risk concentrations and large counterparty risk positions across products and geographies.Firms should reassess their risk management models to guard against stress and report to supervisors on their efforts.The Basel Committee should study the need for and help develop firms’ new stress testing models, as appropriate.Financial institutions should have clear internal incentives to promote stability, and action needs to be taken, through voluntary effort or regulatory action, to avoid compensation schemes which reward excessive short-term returns or risk taking.Banks should exercise effective risk management and due diligence over structured products and securitization.Medium-term actions
International standard setting bodies, working with a broad range of economies and other appropriate bodies, should ensure that regulatory policy makers are aware and able to respond rapidly to evolution and innovation in financial markets and products.Authorities should monitor substantial changes in asset prices and their implications for the macroeconomy and the financial system.Promoting Integrity in Financial Markets
Immediate Actions by March 31, 2009
Our national and regional authorities should work together to enhance regulatory cooperation between jurisdictions on a regional and international level.National and regional authorities should work to promote information sharing about domestic and cross-border threats to market stability and ensure that national(or regional, where applicable)legal provisions are adequate to address these threats.National and regional authorities should also review business conduct rules to protect markets and investors, especially against market manipulation and fraud and strengthen their cross-border cooperation to protect the international financial system from illicit actors.In case of misconduct, there should be an appropriate sanctions regime.Medium-term actions
National and regional authorities should implement national and international measures that protect the global financial system from uncooperative and non-transparent jurisdictions that pose risks of illicit financial activity.The Financial Action Task Force should continue its important work against money laundering and terrorist financing, and we support the efforts of the World Bank-UN Stolen Asset Recovery(StAR)Initiative.Tax authorities, drawing upon the work of relevant bodies such as the Organization for Economic Cooperation and Development(OECD), should continue efforts to promote tax information exchange.Lack of transparency and a failure to exchange tax information should be vigorously addressed.Reinforcing International Cooperation
Immediate Actions by March 31, 2009
Supervisors should collaborate to establish supervisory colleges for all major cross-border financial institutions, as part of efforts to strengthen the surveillance of cross-border firms.Major global banks should meet regularly with their supervisory college for comprehensive discussions of the firm’s activities and assessment of the risks it faces.Regulators should take all steps necessary to strengthen cross-border crisis management arrangements, including on cooperation and communication with each other and with appropriate authorities, and develop comprehensive contact lists and conduct simulation exercises, as appropriate.Medium-term actions
Authorities, drawing especially on the work of regulators, should collect information on areas where convergence in regulatory practices such as accounting standards, auditing, and deposit insurance is making progress, is in need of accelerated progress, or where there may be potential for progress.Authorities should ensure that temporary measures to restore stability and confidence have minimal distortions and are unwound in a timely, well-sequenced and coordinated manner.Reforming International Financial Institutions
Immediate Actions by March 31, 2009
The FSF should expand to a broader membership of emerging economies.The IMF, with its focus on surveillance, and the expanded FSF, with its focus on standard setting, should strengthen their collaboration, enhancing efforts to better integrate regulatory and supervisory responses into the macro-prudential policy framework and conduct early warning exercises.The IMF, given its universal membership and core macro-financial expertise, should, in close coordination with the FSF and others, take a leading role in drawing lessons from the current crisis, consistent with its mandate.We should review the adequacy of the resources of the IMF, the World Bank Group and other multilateral development banks and stand ready to increase them where necessary.The IFIs should also continue to review and adapt their lending instruments to adequately meet their members’ needs and revise their lending role in the light of the ongoing financial crisis.We should explore ways to restore emerging and developing countries’ access to credit and resume private capital flows which are critical for sustainable growth and development, including ongoing infrastructure investment.In cases where severe market disruptions have limited access to the necessary financing for counter-cyclical fiscal policies, multilateral development banks must ensure arrangements are in place to support, as needed, those countries with a good track record and sound policies.Medium-term actions
We underscored that the Bretton Woods Institutions must be comprehensively reformed so that they can more adequately reflect changing economic weights in the world economy and be more responsive to future challenges.Emerging and developing economies should have greater voice and representation in these institutions.The IMF should conduct vigorous and even-handed surveillance reviews of all countries, as well as giving greater attention to their financial sectors and better integrating the reviews with the joint IMF/World Bank financial sector assessment programs.On this basis, the role of the IMF in providing macro-financial policy advice would be strengthened.Advanced economies, the IMF, and other international organizations should provide capacity-building programs for emerging market economies and developing countries on the formulation and the implementation of new major regulations, consistent with international standards.
第二篇:G20峰會(huì)成員國中英文
G20峰會(huì)成員國名單
美國、America
[?'mer?k?] 英國、Britain
[?br?tn] 日本、Japan
[d???p?n] 法國、France
德國、Germany
加拿大、Canada
意大利、Italy
俄羅斯、Russia
澳大利亞、Australia
中國、China
巴西、Brazil
阿根廷、Argentina
墨西哥、Mexico
韓國、Korea
印度尼西亞、Indonesia
印度、India
沙特阿拉伯、Saudi Arabia 南非、South Africa 土耳其
Turkey
[fr?ns]
[?d??m?ni] [?k?n?d?] [??t?l?] [?r???] [??strelj?] [?t?a?n?] [br??z?l]
[?ɑrd??n?tin?] [?m?ks??ko] [k?'r?r]
[??nd??ni??,-??,-do-][??nd??]
[?t?ki]
第三篇:二十國峰會(huì)中英文
我們要看到G20的未來。它不僅需要應(yīng)對(duì)經(jīng)濟(jì)問題,還要應(yīng)對(duì)其他問題。在我看來這樣一個(gè)發(fā)展和演變是必然的。正如此前許多演講者提到,各國的任務(wù)旨在實(shí)現(xiàn)全球的平衡,并且?guī)砀笠惠喌淖兏?,所有的成員國都要推動(dòng)經(jīng)濟(jì)變革和改革。我們要關(guān)注這種政策的協(xié)調(diào),并且積累政策的自信。世界上的許多問題都需要國際協(xié)作,尤其是大國之間的努力,以及跨國和非傳統(tǒng)的協(xié)調(diào),比如稅收、打擊國際犯罪和應(yīng)對(duì)環(huán)境惡化等。20世紀(jì)以來,世界都不斷面臨這些問題,這些非傳統(tǒng)問題也帶來了一些安全隱患,同時(shí),也與我們的經(jīng)濟(jì)繁榮緊密相關(guān)。比如,國際刑事法庭致力于開展打擊非法移民,因?yàn)檫@一群體會(huì)沖擊一個(gè)國家內(nèi)部的勞工市場(chǎng),所以,需要對(duì)移民有嚴(yán)格的登記制度,防止這一體系產(chǎn)生漏洞。聯(lián)合國也要加強(qiáng)這方面的治理,比如,通過G20采取一些嚴(yán)格措施,或者與其他組織形成互補(bǔ),來加強(qiáng)整個(gè)國際社會(huì)的安全。
G20反映了世界的變革和變遷。美國、日本、加拿大這些傳統(tǒng)國家組建起來的集團(tuán)組織,從地理上來說代表了不同的地理區(qū)域。但經(jīng)濟(jì)實(shí)力不可同日而語,G20這樣一個(gè)新型組織在當(dāng)前國際社會(huì)不斷演進(jìn)的過程中發(fā)揮了重要的作用。
中國也是其中一員。中國的經(jīng)濟(jì)發(fā)展迅猛,在過去一二十年平均速度超過8%。中國仍然在領(lǐng)跑新興經(jīng)濟(jì)體,與中國建立關(guān)系越來越重要。我也贊同中國在引領(lǐng)G20的觀點(diǎn)。
盡管G20在應(yīng)對(duì)金融危機(jī)方面表現(xiàn)很好,但一個(gè)重要的問題就是它的合法性和有效性。G20需要有更大的代表性并提供更加平衡發(fā)展的預(yù)期。
國際治理是一個(gè)非常具有挑戰(zhàn)性的話題,但有時(shí)候?qū)Ω母锏某兄Z能否有效落實(shí)也是一個(gè)重要問題。同時(shí),頻繁出現(xiàn)的商業(yè)丑聞、價(jià)格壟斷現(xiàn)象的主要根源就是缺乏良好的治理,這在發(fā)展中國家出現(xiàn)得比較普遍。誰來為此負(fù)責(zé)呢?這個(gè)問題仍然有待于回答。
另一個(gè)質(zhì)疑G20的觀點(diǎn)是G20主要是關(guān)注金融危機(jī)的解決,而對(duì)社會(huì)方面缺乏了解。確實(shí)如此,我們需要在宏大的背景中尋找解決方案。另一方面,在一些新興經(jīng)濟(jì)體中,會(huì)出現(xiàn)包括貧富差距在內(nèi)的不公平現(xiàn)象。中國時(shí)任國家主席胡錦濤在2010年G20墨西哥會(huì)議上曾表示,考慮到新興經(jīng)濟(jì)體不同的處境,G20應(yīng)該幫助這些國家實(shí)現(xiàn)多樣化。
另一方面是G20如何落實(shí)承諾、實(shí)現(xiàn)合作和協(xié)調(diào)的問題。此外,還有如何統(tǒng)籌關(guān)于非經(jīng)濟(jì)領(lǐng)域的問題,比如各國的外貿(mào)問題是由WTO來解決、糧食問題是由聯(lián)合國糧農(nóng)組織來解決的,教育問題則歸于聯(lián)合國教科文組織,G20該如何協(xié)調(diào)處理這些問題呢?這是一個(gè)亟待考慮的現(xiàn)狀。
Many of the problems in the world requires international collaboration, especially between the big powers, as well as the coordination of the multinational and nontraditional, such as tax, such as fighting international crime and to deal with environmental degradation.Since the 20th century, the world continues to face these problems, these non-traditional issues also brought some safe hidden trouble, at the same time, is also closely related to our economic prosperity.For example, the international criminal court is committed to carry out to crack down on illegal immigration, because this group will impact a country's internal labor markets, so, need for immigrants to have strict registration system, prevent the system from leaks.The United Nations will strengthen the management, for example, through the G20 to take some strict measures, or complementary with other organizations, to strengthen the safety of the international community.
第四篇:02 - 誠信宣言-中英文摘要
桂林電子科技大學(xué)畢業(yè)設(shè)計(jì)(論文)報(bào)告用紙
I
誠 信 宣 言
(四字之間空一格,三號(hào)黑體、加粗、居中、與內(nèi)容空一行)
我,王麗英,鄭重宣布:除了參考文獻(xiàn)所標(biāo)明引用的資料和內(nèi)容之外,本論文中不包含有任何已經(jīng)被其他高等教育機(jī)構(gòu)所接受的學(xué)位或?qū)W歷論文資料,也不包含有其他任何人已經(jīng)正式出版的資料內(nèi)容。(四號(hào)宋體)
簽字:
日期:
****年**月**日
Declaration(Times New Roman、三號(hào)加粗、居中、與下文內(nèi)容空一行)
I, Wang Liying, the undersigned, hereby declare that this dissertation does not contain any material which has been accepted for the award of any other degree or diploma in any institutions of higher learning and that, to the best of my knowledge and belief, this dissertation does not contain any material previously published or written by another person, except when due reference is made in the text of the dissertation.(內(nèi)容采用Times New Roman四號(hào)字體)
Signed: Date:
注: 1.本頁頁眉標(biāo)注的頁碼為I。中文簽字日期為:2010年5月28日;英文為:May 28, 2010
2.詳細(xì)說明見指導(dǎo)手冊(cè)。打印時(shí)請(qǐng)刪除紅色字體。
桂林電子科技大學(xué)畢業(yè)設(shè)計(jì)(論文)報(bào)告用紙
II
摘 要
(“摘要”之間空兩格,三號(hào)黑體、加粗、居中,與下面內(nèi)容空一行)
本文從跨文化語用學(xué)角度對(duì)中英公共標(biāo)識(shí)的翻譯進(jìn)行研究。
論文首先對(duì)公共標(biāo)識(shí)進(jìn)行系統(tǒng)的研究,從定義、分類、中英文公共標(biāo)識(shí)的語言特點(diǎn)三方面做出總結(jié),本文將公共標(biāo)識(shí)定義為出現(xiàn)在公共場(chǎng)合的具有指示性、提示性、限制性、強(qiáng)制性特點(diǎn)的文字或圖案,定義范圍廣,為進(jìn)一步研究提供充足的實(shí)例。在此基礎(chǔ)上歸納了目前公共標(biāo)識(shí)漢譯英翻譯的研究方法,包括音譯、直譯、意譯、直譯加注釋、和等效翻譯等五種,發(fā)現(xiàn)大多是從純翻譯角度展開的,較少涉及到跨文化語用學(xué)研究。
跨文化語用學(xué)作為語言學(xué)一個(gè)新興的學(xué)科,目前國內(nèi)外還沒有完整的著作問世,其定義也多種多樣,為方便比較,本文采用的定義為來自英漢兩種不同文化背景的人交流時(shí)產(chǎn)生的語用問題。本文運(yùn)用跨文化語用學(xué)研究中常用的方法——比較法,從文化載體——語用手段層面、文化蘊(yùn)含——語用環(huán)境層面、文化策略——語用主體層面三個(gè)層面逐層深入對(duì)公共標(biāo)識(shí)的翻譯進(jìn)行具體分析, 這三方面緊密相連成為一個(gè)系統(tǒng),其中文化載體反映文化蘊(yùn)含;文化策略是最高層次,作用是在文化主體和文化客體(本文中為文化蘊(yùn)含)之間達(dá)成統(tǒng)一;文化策略決定文化載體和文化蘊(yùn)含,反過來又受到它們的制約。最后對(duì)論文研究做出總結(jié)。該研究具有一定的創(chuàng)新性。(內(nèi)容采用小
四、宋體、行距20磅)
關(guān)鍵詞(小
四、黑體、頂格):跨文化語用學(xué);公共標(biāo)識(shí);翻譯(小
四、宋體、分號(hào))
注: 1.本頁頁眉標(biāo)注的頁碼為II
2.中文摘要字?jǐn)?shù)不應(yīng)少于350字
3.打印時(shí)請(qǐng)刪除紅色字體。
桂林電子科技大學(xué)畢業(yè)設(shè)計(jì)(論文)報(bào)告用紙
III
Abstract(Times New Roman、三號(hào)加粗、居中、與下文空一行)
This paper examines the translation of public signs in the perspective of intercultural pragmatics, and proposes a new approach to translating public signs, which is developed in three aspects of intercultural pragmatics.The thesis starts with the studies of public signs, including definition, classification, and the comparison of language features between English and Chinese public signs.The thesis defines public signs as words or pictures appearing in public for instruction, reminders, restriction, and prohibition.So the thesis is supported with enough cases.Then the thesis gives a literature review of the recent researches on the translation of public signs, finding that most of them have been done purely in translation techniques, such as transliteration, literal translation, free translation, word-for-word translation plus annotations, and equivalent-effect translation.Few of them deal with the translation from the perspective of intercultural pragmatics.There are even few works on intercultural pragmatics at home and abroad, since it is a newly-built branch of linguistics.In order to make clear comparison, intercultural pragmatics is defined as a study which emphasizes the pragmatic problems occurring when people from Chinese and English cultures communicate with each other.Based on my study of public signs and translation techniques, I put forward a suggested approach to the translation in three aspects: culture carrier----the aspect of pragmatic means;culture implication----the aspect of pragmatic environment;and culture strategy----the aspect of pragmatic subject.They should be taken into consideration as a whole in the course of translation.The relationship between culture carrier and culture environment is that of form and content.Culture carrier represents culture environment.The process of making culture strategy is a process of making agreement between the subjective and culture environment.At last, I hope that this thesis could help translators understand and translate public signs better.However, due to my limitation, there’s still much room remained to be improved.(內(nèi)容采用Times New Roman字體、小
四、行距20磅)Key words(小四加粗頂格): intercultural pragmatics;public signs;translation(Times New Roman、小
四、分號(hào))
注: 1.本頁頁眉標(biāo)注的頁碼為III
2.英文摘要字?jǐn)?shù)不少于250個(gè)單詞。打印時(shí)請(qǐng)刪除紅色字體。
第五篇:G20首爾峰會(huì)領(lǐng)導(dǎo)人宣言英文版全文
G20首爾峰會(huì)領(lǐng)導(dǎo)人宣言英文版全文
THE G20 SEOUL SUMMIT LEADERS’ DECLARATION NOVEMBER 11 – 12, 2010
1.We, the Leaders of the G20, are united in our conviction that by working together we can secure a more prosperous future for the citizens of all countries.2.When we first gathered in November 2008 to address the most severe world recession our generation has ever confronted, we pledged to support and stabilize the global economy, and at the same time, to lay the foundation for reform, to ensure the world would never face such upheaval again.3.Over the past four Summits, we have worked with unprecedented cooperation to break the dramatic fall in the global economy to establish the basis for recovery and renewed growth.4.The concrete steps we have taken will help ensure we are better prepared to prevent and, if necessary, to withstand future crises.We pledge to continue our coordinated efforts and act together to generate strong, sustainable and balanced growth.5.We recognize the importance of addressing the concerns of the most vulnerable.To this end, we are determined to put jobs at the heart of the recovery, to provide social protection, decent work and also to ensure accelerated growth in low income countries(LICs).6.Our relentless and cooperative efforts over the last two years have delivered strong results.However, we must stay vigilant.7.Risks remain.Some of us are experiencing strong growth, while others face high levels of unemployment and sluggish recovery.Uneven growth and widening imbalances are fueling the temptation to diverge from global solutions into uncoordinated actions.However, uncoordinated policy actions will only lead to worse outcomes for all.8.Since 2008, a common view of the challenges of the world economy, the necessary responses and our determination to resist protectionism has enabled us to both address the root causes of the crisis and safeguard the recovery.We are agreed today to develop our common view to meet these new challenges and a path to strong, sustainable and balanced growth beyond the crisis.9.Today, the Seoul Summit delivers: · the Seoul Action Plan composed of comprehensive, cooperative and country-specific policy actions to move closer to our shared objective.The Plan includes our commitment to:implement a range of structural reforms that boost and sustain global demand, foster job creation, and increase the potential for growth;and-enhance the Mutual Assessment Process(MAP)to promote external sustainability.We will strengthen multilateral cooperation to promote external sustainability and pursue the full range of policies conducive to reducing excessive imbalances and maintaining current account imbalances at sustainable levels.Persistently large imbalances, assessed against indicative guidelines to be agreed by our Finance Ministers and Central Bank Governors, warrant an assessment of their nature and the root causes of impediments to adjustment as part of the MAP, recognizing the need to take into account national or regional circumstances, including large commodity producers.These indicative guidelines composed of a range of indicators would serve as a mechanism to facilitate timely identification of large imbalances that require preventive and corrective actions to be taken.To support our efforts toward meeting these commitments, we call on our Framework Working Group, with technical support from the IMF and other international organizations, to develop these indicative guidelines, with progress to be discussed by our Finance Ministers and Central Bank Governors in the first half of 2011;and, in Gyeongju, our Finance Ministers and Central Bank Governors called on the IMF to provide an assessment as part of the MAP on the progress toward external sustainability and the consistency of fiscal, monetary, financial sector, structural, exchange rate and other policies.In light of this, the first such assessment, to be based on the above mentioned indicative guidelines, will be initiated and undertaken in due course under the French Presidency.· a modernized IMF that better reflects the changes in the world economy through greater representation of dynamic emerging markets and developing countries.These comprehensive quota and governance reforms, as outlined in the Seoul Summit Document, will enhance the IMF’s legitimacy, credibility and effectiveness, making it an even stronger institution for promoting global financial stability and growth.· instruments to strengthen global financial safety nets, which help countries cope with financial volatility by providing them with practical tools to overcome sudden reversals of international capital flows.· core elements of a new financial regulatory framework, including bank capital and liquidity standards, as well as measures to better regulate and effectively resolve systemically important financial institutions, complemented by more effective oversight and supervision.This new framework, complemented by other achievements as outlined in the Seoul Summit Document, will ensure a more resilient financial system by reining in the past excesses of the financial sector and better serving the needs of our economies.· the Seoul Development Consensus for Shared Growth that sets out our commitment to work in partnership with other developing countries, and LICs in particular, to help them build the capacity to achieve and maximize their growth potential, thereby contributing to global rebalancing.The Seoul Consensus complements our commitment to achieve the Millennium Development Goals(MDGs)and focuses on concrete measures as summarized in our Multi-Year Action Plan on Development to make a tangible and significant difference in people’s lives, including in particular through the development of infrastructure in developing countries.· the Financial Inclusion Action Plan, the Global Partnership for Financial Inclusion and a flexible SME Finance Framework, all of which will significantly contribute to improving access to financial services and expanding opportunities for poor households and small and medium enterprises.· our strong commitment to direct our negotiators to engage in across-the-board negotiations to promptly bring the Doha Development Round to a successful, ambitious, comprehensive, and balanced conclusion consistent with the mandate of the Doha Development Round and built on the progress already achieved.We recognize that 2011 is a critical window of opportunity, albeit narrow, and that engagement among our representatives must intensify and expand.We now need to complete the end game.Once such an outcome is reached, we commit to seek ratification, where necessary, in our respective systems.We are also committed to resisting all forms of protectionist measures.10.We will continue to monitor and assess ongoing implementation of the commitments made today and in the past in a transparent and objective way.We hold ourselves accountable.What we promise, we will deliver.11.Building on our achievements to date, we have agreed to work further on macro-prudential policy frameworks;better reflect the perspective of emerging market economies in financial regulatory reforms;strengthen regulation and oversight of shadow banking;further work on regulation and supervision of commodity derivatives markets;improve market integrity and efficiency;enhance consumer protection;pursue all outstanding governance reform issues at the IMF and World Bank;and build a more stable and resilient international monetary system, including by further strengthening global financial safety nets.We will also expand our MAP based on the indicative guidelines to be agreed.12.To promote resilience, job creation and mitigate risks for development, we will prioritize action under the Seoul Consensus on addressing critical bottlenecks, including infrastructure deficits, food market volatility, and exclusion from financial services.13.To provide broader, forward-looking leadership in the post-crisis economy, we will also continue our work to prevent and tackle corruption through our Anti-Corruption Action Plan;rationalize and phase-out over the medium term inefficient fossil fuel subsidies;mitigate excessive fossil fuel price volatility;safeguard the global marine environment;and combat the challenges of global climate change.14.We reaffirm our resolute commitment to fight climate change, as reflected in the Leaders' Seoul Summit Document.We appreciate President Felipe Calderón’s briefing on the status of the UN Framework Convention on Climate Change negotiations, as well as Prime Minister Meles Zenawi’s briefing on the report of the High-Level Advisory Group on Climate Change Financing submitted to the UN Secretary-General.We will spare no effort to reach a balanced and successful outcome in Cancun.15.We welcome the Fourth UN LDC Summit in Turkey and the Fourth High-Level Forum on Aid Effectiveness in Korea, both to be held in 2011.16.Recognizing the importance of private sector-led growth and job creation, we welcome the Seoul G20 Business Summit and look forward to continuing the G20 Business Summit in upcoming Summits.17.The actions agreed today will help to further strengthen the global economy, accelerate job creation, ensure more stable financial markets, narrow the development gap and promote broadly shared growth beyond crisis.18.We look forward to our next meeting in 2011 in France, and subsequent meeting in 2012 in Mexico.19.We thank Korea for its G20 Presidency and for hosting the successful Seoul Summit.20.The Seoul Summit Document, which we have agreed, follows