'China's growth contributes to world peace'
(Xinhua)
Updated: 2005-12-04 19:21

China's economic growth will present a chance for the world and contribute to world peace, said Chinese Finance Minister Jin Renqing on Saturday.

Chinese Finance Minister Jin Renqing (R) meets with his French counterpart Thierry Breton in London, Britain Dec. 2, 2005. [Xinhua]

Jin made the remarks when briefing the participants on China's 11th five-year plan and the country's peaceful development concept at an economic policy dialogue here.

Jin and his counterparts from India, Brazil, South Africa attended the dialogue with G7 finance ministers.

The Chinese finance minister said the economic policy dialoguebetween the developed and developing countries is very important.

Though very short in terms of time, the meeting is very successful as the finance ministers exchanged their views on worldeconomy affairs, he added.

During the meeting, the finance ministers focused on trade, energy andpledged to support the forthcoming Hong Kong WTO ministerial meeting.

The ministers agreed to support the establishment of a fair, just,open and unbiased multi-lateral trade system.

The ministers for the developing countries also urged the developed countries to open up their markets to make a better environment for their development.

The ministers also agreed that world energy price shouldbe kept at a reasonable level, and they should strengthen their information exchange on energy and support the World Bank'sproposal for an energy fund to back up alternative energy research.

The ministers at the meeting found out that with the deepening ofeconomic globalization, a stable environment for trade, finance andenergy is growing to be a common need for the world community.

"The most important thing is to materialize all the commitment to reduce world poverty by half by the year between 2000 and 2015 as mapped out in the millennium plan," the ministers said.

Traditionally, four meetings are held each year for G7 FinanceMinisters and Central Bank Governors' Meetings. A fifth meeting hasbeen added this year reportedly in honor of 79-year-old AlanGreenspan, the out-going chairman of Federal Reserve of the United States.