China, as a major power, is willing to share the responsibility in tackling the world financial turmoil.
If the IMF issues bonds to finance itself, China will actively consider buying those bonds. China may offer USA $100 billion in additional financing to the International Monetary Fund during the upcoming G20 summit in London.
Premier Wen Jiabao has called for reforming the internal governance structure of the IMF to fend off financing and investment risks, balance rights and obligations and pay more attention to the interests of developing countries.
Currently, the EU member states have 32 percent of the IMF voting rights and the United States have 17 percent, compared with China’s 3.7 percent and India’s 1.9 percent.
China surpassed Germany to become the world’s third largest economy in 2007 and is expected to grow 6.5 percent in 2009, according to the latest estimates by the World Bank, when the developed countries are in a synchronized recession. India is also expected to maintain a positive growth.
At the meeting of G20 finance ministers two weeks ago, China, India, Brazil and Russia demanded more voting rights be given to developing nations at the London summit. China should have a more central role in the IMF, with it's voting stake increased.