China, UK Hold Financial Talks

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Last updated at: (Beijing Time) Thursday, November 29, 2001

China, UK Hold Financial Talks

China and the United Kingdom agreed to launch a new cooperative project on budget issues, according to a joint statement issued here Wednesday by the 2nd Session of the China-UK Financial Dialogue.

China and the United Kingdom agreed to launch a new cooperative project on budget issues, according to a joint statement issued here Wednesday by the 2nd Session of the China-UK Financial Dialogue.

The project, aiming to improve mutual understanding of different budget systems employed in the two countries, will involve collaboration between officials from the two Financial Ministries and experts from other ministries.

Chinese Vice Minister of Finance Jin Liqun and British Financial Secretary to the Treasury Paul Boateng co-chaired the one-day Dialogue.

The two sides exchanged views on a series of issues including macroeconomics, the prospect of China-UK cooperation after China'saccession to the World Trade Organization, international financialstructural reform, combating international terrorism and money laundering, foreign exchange issues, financial regulations, state-owned enterprises reform, resolution of related social problems and regional cooperation.

The joint statement says that a strengthened China-UK economic relationship benefits the two countries, and that the China-UK Financial Dialogue will help promote financial and economic cooperation and the bilateral relationship as a whole.

The next session of China-UK Financial Dialogue will be held inLondon within the next 18 months. The first session was held in London in 1998.

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