It was incumbent upon the G20 to provide stronger political drive, greater economic resources and better institutional guarantee for development, he added.
Hu urged developed countries to honor in good faith their commitments on official development assistance, market opening, and debt reduction and cancellation.
He also called on the countries and international organizations to scale up financial and technological support for developing countries and help them build stronger capacity for self development.
"The World Bank, the IMF and other international financial institutions should use their resources to help, on a priority basis, developing countries, the least developed countries in particular," he stressed.
Since the outbreak of the international financial crisis, China has provided assistance to developing countries through multiple means and channels, Hu said.
"China will continue to offer assistance to other developing countries as its ability permits within the framework of South-South cooperation, and do its utmost to help other developing countries achieve development," said the president.