The 12th session of the China- US Joint Economic Committee (JEC) released a joint statement in Beijing October 25 calling for further deepening of the cooperative relations between China and the United States and enhancing their collaboration in international economic and financial affairs.

　 According to the joint statement, the two countries have agreed to establish a more intensive process of dialogue on financial and capital market development issues, including the roles of foreign financial services providers in each country.

　 The two countries welcome the creation of the new informal mechanism for dialogue among major developed countries and the emerging market economies, according to the joint statement.

　 The JEC meeting was co-chaired by Chinese Minister of Finance Xiang Huaicheng and the US Secretary of Treasury Lawrence Summers.

　 The statement says that the two sides discussed bilateral law enforcement agreements on money laundering, including enforcement that applies to exports and imports of goods made by prison laborers.

　 They expressed satisfaction with the Customs Mutual Assistance Agreement that has been in effect since the last JEC meeting. They reiterated their belief that this agreement will strengthen bilateral efforts to suppress international organized crime, drug trafficking, smuggling activities and violations of intellectual property rights.

　 According to the joint statement, the two sides agreed that the next meeting of the JEC will take place in Washington D.C. in 2000. (Xinhua)