Informal dialogue with Group of Seven (G7) finance ministers had met its objectives, said Finance Minister Jin Renqing in London on Saturday.

 

Jin said that during talks between him, the governor of China’s central bank and ministers from G7 countries, the global economic situation and related macroeconomic policies were discussed in depth.

 

He said they also "enjoyed an open and helpful exchange of views on a wide range of economic issues of mutual interest in a candid way."

 

During the meetings, they talked about fiscal and monetary policies in G7 economies, the Asian economic outlook and exchange rate flexibility.

 

Finance ministers and central bank chiefs from the world’s seven richest countries praised the rapid development of the Chinese economy and its contributions to world growth.

 

Jin said there was agreement that dialogue would help boost stable global economic development and improve the international economic order.

 

He also said "it was agreed that this meeting was an effective means of increasing shared understanding of the challenges and opportunities of an increasingly integrated global economy.”

 

This is the second time the Finance Minister and the central bank governor had attended the G7 finance ministers' meeting, the first being in Washington in October 2004.

 

Jin’s meetings included one with the UK Chancellor of the Exchequer, or finance minister, on Friday.

 

He announced that he had invited Gordon Brown to visit China from February 21 to 23, which both sides hope will promote economic relations between the two countries.

 

(Xinhua News Agency February 6, 2005)