Li Congjun, president of China's Xinhua News Agency and executive chairman of the World Media Summit, delivers a speech at the opening ceremony of the summit at the Great Hall of the People in Beijing, capital of China, on Oct. 9, 2009. The two-day summit, hosted by Xinhua News Agency, opened here Friday morning.

The world's media must always adhere to their social responsibility and their role in improving public welfare, President of Xinhua News Agency Li Congjun said Friday.

Li made the remarks while addressing the opening ceremony of the World Media Summit, which gathered about 300 representatives from more than 170 media outlets the world over.

One of the true values of the media was "in its use of accurate, objective, fair and balanced news and information services to popularize ideologies pursuing peace, development and cooperation, promote sound and sustained growth of the world economy, facilitate common development of all civilizations and accelerate human progress and social development," he said.

The global media industry was feeling the impact of the financial crisis and facing challenges from the information technology led by digital and networking technologies.

Despite the challenges and difficulties, he said, worldwide media organizations should enhance communication, cement cooperation and accelerate development to live up to their social obligations.

Media organizations from across the world responded promptly to the May 12 Wenchuan earthquake last year, published ongoing reports about the disaster and the rescue efforts. The media voiced their heart-felt sympathy and rendered valuable support, Li said.

"All these amply and vividly demonstrated the media's social responsibility and role in public welfare."