China Financial Daily

China, Japan hold high-level economic dialogue, the common response to financial crisis
China and Japan held a one-day Sunday the second high-level economic dialogue, the global financial crisis and vowed to make concerted efforts to promote bilateral economic and trade relations.

“This can be discussed in depth dialogue on economic and financial situation, environment and energy cooperation, trade and investment cooperation as well as regional and international economic issues and reached consensus on many important issues and achieve positive results,” Wang Qishan, Vice Premier of the State Council, said: at a joint press conference. “Under the present circumstances of the severe challenges brought about by the growing international financial crisis, it is necessary to China and Japan, and vigorously implement the consensus the Group of 20 summit in Washington and London,” Wang said, “more effective measures, to ensure stability in financial markets, while helping our respective countries and the resumption of growth in the global economy. ”

As the world’s No. 2 and No. 3 economies, Japan and China, stressed that their role, regional and international economic and financial cooperation and vowed to fight against protectionism. “We will work together to other parts of the world the results of a comprehensive and balanced WTO Doha Round negotiations as soon as possible, and oppose protectionism in trade and investment,” Wang said. Japanese Foreign Minister Hirofumi Nakasone called for dialogue “meaningful communication.” He said that the two countries have agreed to promote open and transparent trade relations in order to help revive the world economy. Nakasone also noted that during the dialogue, Japan has expressed concern about the issues, including food security, energy and mandatory certification system aimed at the introduction of the Government of China’s information technology products of foreign companies. Positive response from the Chinese side, according to reports.

The two sides agreed to promote the establishment of “10 +3″ of regional foreign exchange reserve pool and the Asian bond market and provide financial support for enterprises from both countries to explore markets of third countries. Earlier in the day, the two trade ministers signed a memorandum of understanding, protection of intellectual property rights. They agreed to establish the first working group to establish a legal framework for the implementation of the fight against infringement of intellectual property rights. A one-day dialogue, co-chaired by the King and the Japanese Foreign Minister Hirofumi Nakasone, which opened here Sunday. The meeting was attended by senior officials from both countries. Dialogue mechanism, the first held in Beijing in December 2007 co-sponsored by the Chinese Premier Wen Jiabao and then Japanese Prime Minister Shinzo Abe, Wen Jiabao’s visit to Japan in April 2007.