Asia-Europe Finance Ministers Meeting Closes 　　*Finance ministers from 10 Asian nations and the 15 European Union member states ended their two-day meeting Sunday in Frankfurt and issued a presidential statement. 　　The financial crisis has stricken the Asian countries which have made great efforts to stabilize their economy and adopted a series of reform measures, the statement said, adding that the ministers agree to continuously push the reform so as to resume the confidence of the international finance markets. 　　The participants of the meeting noticed the need to censor the transparency of the private financial institutions participating in the flow of international capital, the statement said. 　　The ministers believed that the intimate and continuous increasing economic link between Asia and Europe is the main factor of the economic recovery and growth. 　　The ministers have noticed, the statement said, that China has further promoted the economic growth by implementing a positive financial policy. They welcome the policy of keeping the Renminbi stable, which guarantees the regional financial stability. 　　*Chinese Finance Minister Xiang Huaicheng delivered a theme speech at the meeting, emphasizing the necessity of establishing a global financial supervisory and administrative system. 　　The Asian financial crisis revealed the unhealthy side of the current international financial system, and the harm to the developing countries posed by the unreasonable international economic order, Xiang noted. 　　The process of the economic globalization should be based on the readjustment of the international economic order, said Xiang, adding that China supports the efforts of the international community for making financial supervision guidelines and promoting the stability of the international financial system. 　　 HomeNews 1999-01-17 Page2 Full Story in Chinese