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.
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"The Chinese affirmed that they would continue to implement
market-oriented reforms to promote sustainable and long-term growth
in China," said the statement.
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The US side described the strong US economic recovery brought about
by timely fiscal and monetary policy measures, it added.
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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 successful
conclusion, said the statement.
The Doha round, launched in 2001, had been in trouble since the
talks in Cancun, Mexico, collapsed almost a year ago over disputes
in farm subsidies.
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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.
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They discussed macroeconomic policy, financial sector issues and
efforts to combat terrorist financing and money laundering.
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Both sides pledged to continue their cooperation to counter the
financing of terrorism and money laundering on a global basis, and
highly valued the important role of the Financial Action Task Force
(FATF).
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"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.
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"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.
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The Paris-based FATF, created in 1989 by the G-7 group, is aimed at
coordinating national laws among its members on the fight against
tax evasion and money laundering.
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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.?
(Xinhua News Agency October 1, 2004)