Visiting Chinese President Hu Jintao has briefed the leaders of the Asia-Pacific Economic Cooperation forum on China's economy, saying it is in good shape and will continue its fast and steady growth.

He made the statement while attending a working luncheon on Sunday hosted by Chilean President Ricardo Lagos.

The Chinese president also said that the country's economic development encountered some problems but the Chinese government has taken a series of measures to strengthen and improve macro-economic control.

China's GDP grew by 9.5 percent in the first three quarters and is expected to reach 9 percent for the whole year.

Hu Jintao added that China is actively and steadily carrying out its financial reforms. Two of the four major state-owned commercial banks are about to get listed after establishing a stockholding system, and the other two are making preparations for this purpose.

After the working luncheon, the APEC leaders issued the Santiago Declaration, a statement reached at the end of their two-day annual gathering being held from Saturday to Sunday (Nov. 21).

Editor: Olivia