China calls for closer G20 cooperation, stable currency rates

%3CP%3E%3CFONT%20face%3DVerdana%3EChinese%20Finance%20Minister%20Xie%20Xuren%20on%20Saturday%20called%20all%20major%20economies%20to%20continue%20to%20strengthen%20cooperation%20on%20international%20economic%20issues%20and%20maintain%20the%20stability%20of%20main%20reserve%20currencies.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAt%20the%20Paris%20meeting%20gathering%20finance%20ministers%20and%20central%20bank%20governors%20of%20the%20Group%20of%2020%20economies%2C%20Xie%20said%20that%20G20%20members%20should%20enhance%20cooperation%20in%20making%20economic%20policies%20and%20cement%20the%20economic%20recovery%20against%20the%20downside%20risks.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESpeaking%20at%20the%20meeting%2C%20Xie%20urged%20countries%20to%20reduce%20malicious%20capital%20flows%20that%20are%20aimed%20at%20arbitrage%20on%20international%20levels%20and%20have%20the%20potential%20of%20pushing%20up%20global%20inflation.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Chinese%20minister%20also%20urged%20countries%20to%20continue%20fighting%20against%20all%20sorts%20of%20protectionism%20and%20to%20boost%20international%20trade%20and%20investment.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20sustain%20an%20active%20fiscal%20policy%20and%20a%20prudent%20monetary%20policy%20through%202011%2C%20and%20continue%20to%20make%20economic%20structural%20reform%20in%20a%20bid%20to%20transform%20its%20model%20of%20economic%20growth%2C%20Xie%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20adapt%20to%20a%20better%20growth%20pattern%20that%20is%20driven%20by%20consumption%2C%20investment%20and%20export%20in%20a%20coordinated%20way%2C%20and%20will%20strive%20to%20increase%20citizens%27%20income%20and%20improve%20its%20social%20security%20services%2C%20Xie%20added.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAlso%20on%20Saturday%2C%20Zhou%20Xiaochuan%2C%20governor%20of%20the%20Chinese%20central%20bank%2C%20said%20the%20reform%20of%20the%20international%20monetary%20system%20%28IMS%29%20should%20take%20into%20account%20both%20long-term%20visions%20and%20short-%20term%20achievements%20as%20the%20reform%20addresses%20such%20a%20wide%20scope%20of%20contents.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EActive%20discussions%20over%20the%20directions%20of%20the%20IMS%20reform%20were%20also%20in%20need%2C%20Zhou%20said.%20He%20called%20for%20bigger%20roles%20for%20the%20Special%20Drawing%20Rights%2C%20which%20can%20potentially%20function%20as%20the%20money%20of%20account%20and%20the%20asset%20of%20reserves.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChinese%20delegations%2C%20headed%20by%20Xie%20and%20Zhou%2C%20attended%20the%20first%20finance%20meeting%20under%20French%20presidency%20of%20G20%20in%20Paris%20from%20Friday%20to%20Saturday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20meeting%20issued%20a%20statement%20confirming%20an%20agreement%20on%20a%20list%20of%20indicators%20to%20assess%20global%20economic%20imbalances%20after%20discussions%20and%20debates%20on%20global%20economy%2C%20reforms%20of%20the%20IMS%2C%20international%20financial%20regulations%2C%20the%20excessive%20volatility%20of%20main%20commodities.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20statement%20agreed%20on%20a%20bigger%20role%20for%20the%20International%20Monetary%20Fund%20in%20coordinating%20economic%20policies%20on%20international%20level.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWhat%20achieved%20so%20far%20was%20just%20the%20first%20step%2C%20said%20French%20Finance%20Minister%20Christine%20Lagarde%20in%20a%20press%20conference%2C%20noting%20further%20discussions%20on%20guidelines%20to%20assess%20the%20indicators%2C%20detail%20recommendations%20on%20IMS%20reforms%20and%20other%20important%20common%20concerns%20were%20expected%20by%20April%2C%20when%20the%20second%20finance%20meeting%20of%202011%20will%20place%20in%20the%20United%20States.%3CBR%3E%3C/FONT%3E%3C/P%3E