China needs 'sound' world economy to pursue forex reform: Hu

SEOUL: Chinese President Hu Jintao told US President Barack Obama Thursday that Beijing has an "unswerving" resolve to pursue currency reform, but needs a sound world economy to do it, an official said.

"President Hu also stressed China's resolve to push forward (foreign) exchange reform is unswerving," foreign ministry spokesman Ma Zhaoxu said after Hu and Obama met just prior to the start of a G20 summit in Seoul.

"The reform will need a very sound external environment and can only be implemented in an incremental process," Ma told reporters.