ADB Annual Meeting will Influence Region's Economy: Official

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Last updated at: (Beijing Time) Thursday, May 09, 2002

ADB Annual Meeting will Influence Region's Economy: Official

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The 35th Annual Meeting of the Asian Development Bank (ADB) will actively influence the regional economy through discussing financial affairs and spreading accurate and comprehensive policy information in the Asian-Pacific region.

The remarks were made in Shanghai Thursday by Xiang Huaicheng, Chinese Minister of Finance, and also chairman of the 35th board of governors of the ADB.

The annual meeting of the ADB focuses on the regional economic situation, its prospects and existing problems, and the ADB's financial affairs.

According to Xiang, the annual meeting is expected to promote the ADB's progress in developing financing, increasing aid to developing countries, reducing poverty, protecting the environment and upgrading regional economic cooperation.

The meeting is also expected to help create business models of the ADB, he added.

Xiang proposed several areas in which the ADB can play an important role, including transferring more preferential capital to developing members, studying the problems developing members face in their integration into the regional and world economy, and promoting regional economic cooperation to build closer partnership among ADB members.

Xiang stressed that China appreciated and supported the ADB's efforts in promoting regional economic cooperation and development.

China had always been active in many cooperative projects proposed by the ADB, which could not only promote cooperation with neighboring countries and regions, but also helped develop the country's relatively poor western regions, Xiang said.

China would continue to promote regional economic cooperation advocated by the ADB to eliminate the side effects of globalization and achieve equal regional development, Xiang said.

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