People walk by a sign in the congress center at a meeting of the World Economic Forum in Davos, Switerzland Monday Jan. 25, 2010.Ffinancial reforms, climate talks and haiti's reconstruction are set to dominate the agenda of the world's elites heading up to the Swiss mountain resort of davos this week for their annual meeting. [CFP]

Chinese Vice Foreign Minister He Yafei said on Thursday that the global financial crisis exposed shortcomings in the governance structure of the global economy, and it has become the consensus of the international community to set up a global governance structure characterized by both fairness and efficiency.

To push forward the reform of the global governance structure, He said the international community should stick to the following principles: to ensure equal participation of all concerned parties, to ensure that developing countries have wider representation and greater say, to enhance understanding and tolerance among world countries, taking into account difficulties and challenges of developing countries in their socio-economic development.

China has contributed greatly to the recovery of the world economy by actively promoting international cooperation and maintaining a fairly stable and rapid economic growth. It has also played a constructive role in global agenda, such as the issue of climate change.

"China will stick to peaceful development, actively take part in and push forward international cooperation, shoulder its corresponding responsibilities and obligations, so as to realize mutual benefits and common development," He said.

The participants of the WEF meeting should make the best use of the WEF as a platform to explore how to draw lessons from the financial crisis.

They should also work together to find ways to resolve thorny issues of the world economy, overcome trade and investment protectionism, effectively tackle global issues such as climate change, food and energy security.