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China, US issue economic, financial statement
(Xinhua)
Updated: 2004-10-01 15:44
The United States and China issued a joint statement Thursday on economic and
financial issues after a Joint Economic Committee meeting in Washington.
China reaffirmed its commitment to working toward a market-based flexible
exchange rate and the US expressed support for China's endeavor to join the
Inter-American Development Bank, said the statement.
"The Chinese affirmed that they would continue to implement market-oriented
reforms to promote sustainable and long-term growth in China," said the
statement.
The US side described the strong US economic recovery brought about by timely
fiscal and monetary policy measures, it added.
Both sides emphasized the importance of the Doha round of multilateral
negotiations of the World Trade Organization (WTO), and promised their full
efforts to bring the round to a successfulconclusion, said the statement.
The Doha round, launched in 2001, had been in trouble since thetalks in
Cancun, Mexico, collapsed almost a year ago over disputesin farm subsidies.
Delegates from the two country's finance and foreign ministries,central banks
and securities regulatory agencies attended the 16th Session of the China-US
Joint Economic Committee, a forum first held in 1980.
They discussed macro-economic policy, financial sector issues and efforts to
combat terrorist financing and money laundering.
Both sides pledged to continue their cooperation to counter the financing of
terrorism and money laundering on a global basis, andhighly valued the important
role of the Financial Action Task Force (FATF).
"The United States welcomed China's intent to participate in the inaugural
meeting of the Eurasian FATF-style regional body on money laundering in
October," said the statement.
"China affirmed its willingness to be actively involved in an anti-money
laundering and anti-terrorist financing regional body, and to take necessary
steps to obtain full membership in the FATF," it said.
The Paris-based FATF, created in 1989 by the G-7 group, is aimed at
coordinating national laws among its members on the fightagainst tax evasion and
money laundering.
China expressed its intention to join the Inter-American Development Bank
(IDB), and voiced willingness to made a greater contribution to the cause of
poverty reduction in Latin America and the whole world. "The United States
supports China's endeavor to join the IDB," said the
statement.
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