Xi, Putin talk ahead of G20 summit

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Chinese President Xi Jinping and his Russian counterpart Vladimir Putin Thursday vowed to safeguard the interests of emerging markets and push for reform in international financial systems when they met before the Group of 20 (G20) summit in St Petersburg to discuss the promotion of economic growth and the creation of job opportunities.

Both leaders have attached great importance to bilateral cooperation, Xi said, expressing the hope that the two countries can accelerate cooperation in major strategic projects in such fields as energy and aviation, and continue to deepen military cooperation to meet new threats and challenges.

On global issues, Xi said that in the face of profound and complicated changes in the international situation, China is willing to cooperate closely with Russia in strengthening macro-economic policy coordination, boosting reforms of global economic and financial systems, fighting against trade and investment protectionism and safeguarding the interests of emerging markets.

Putin said Russia is willing to strengthen coordination with China at the G20 summit to push for achievements in major issues such as world economic growth, international financial system reforms and safeguarding the interests of emerging markets.

He also called on BRICS, which groups Brazil, Russia, India, China and South Africa, to beef up coordination and cooperation.

The BRICS group will contribute $100 billion to a fighting fund to steady currency markets destabilized by an expected pullback of US monetary stimulus, in which $41 billion will come from China.

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