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China, EU call for more exchanges in financial sector |
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13:05, July 05, 2007 |
China and the European Union (EU) on Wednesday held the Third China-EU Financial Dialogue in Brussels, aiming at beefing up exchanges in financial policies.
At the one-day meeting, the two sides discussed various topics of mutual concern, such as the macro-economic situation and policies, reforms to financial sectors, guidelines on accounting and governmental purchases.
The two delegations, led by Chinese Vice Minister of Finance Zhu Zhigang and EU Commissioner for Economic and Monetary Affairs Joaquin Almunia, signed a joint statement after their talks.
In the document, the two sides agreed that despite high oil prices, the world economy maintains robust growth thanks to healthy financial market conditions and booming global trade.
On their respective economies, the Chinese side said China''s economic growth is running above previous expectations and the EU side said its economy is growing faster than expected.
The Chinese side agreed to implement prudent fiscal policies and suitably tight monetary policies, and to further restructure the economy and transform its growth pattern so as to achieve sustainable development. It also agreed to gradually improve the mechanism for setting the yuan exchange rate.
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