China, Japan pledge financial cooperation

Beijing, Feb 19: China and Japan Sunday pledged to boost financial cooperation as the global economic situation remains “complex and grim”.

“Financial cooperation is a major part of the economic cooperation between China and Japan,” said Chinese Vice Premier Wang Qishan after meeting with visiting Japanese Finance Minister Jun Azumi.

Wang said he hoped the two economies would step up communication to deepen financial cooperation, and carry out research actively in settlement of trade and investment in local currencies to develop their financial markets in a healthy and stable way.

“As the current world economic situation remains very complex and grim, it’s a priority task for all the countries to secure the recovery of the global economy,” Xinhua quoted Wang as saying.

Azumi told Wang that Japan is working hard to tackle deflation and fiscal deficit.

IANS