Chinese official shares views on financial issues with G20 leaders

10:02, June 06, 2010      

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Chinese Finance Minister Xie Xuren and People's Bank of China (PBOC) Chairman Zhou Xiaochuan announced China's fundamental views on major agenda items, Chinese representatives told a press briefing Saturday.

According to those Chinese representatives, Xie Xuren told the G20 Financial Leader Meeting that China will push for expanding domestic demand, while reforming its structure, in a bid to accelerate the economic development.

He also proclaimed that the Chinese government will implement an aggressive fiscal policy, together with a moderately accommodative monetary policy.

And Zhou, on the other hand, supported proposal to tighten financial regulation, saying financial institutions' stronger capital and liquidity standards adds to enhancing risk management.

Furthermore, Xie said that while carefully finalizing the timing and method of the exit strategies with regard to their economic situations, the countries need to seek for economic growth and brace for inflation and fiscal risks at the same time.

The two financial leaders took part in the G20 Financial Leader Meeting, hosted in South Korea's southeastern port city of Busan, sharing views with the other participant leaders, such as U.S. Treasury Secretary Timothy Geithner, Canadian Finance Minister James Flaherty, and South Korean Finance Minister Yoon Jeung-hyun.



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