China U.S. Coordination Is of Great Importance

In preparation for the upcoming visit of Chinese President Xi Jinping to Washington and his meeting with U.S. President Barack Obama, China’s Vice Finance Minister Zhu Guangyao said, at a New York City symposium last week, that China and the United States could work together to improve the global financial system to achieve a stable and sustainable economy for the world. “As economic integration between the two countries and their influence on the rest of the world grew, the coordination of economic policies between them became much more important,” Zhu said and Xinhua reported yesterday. The symposium was entitled, “Building the Financial System of the 21st Century: An Agenda for China and the United States.”

Speaking at the same symposium, Christopher Giancarlo, commissioner of the U.S. Commodity Futures Trading Commission, said, “The U.S. and China are experiencing different stages of financial developments, but we share the common determination to continue to improve the markets and economies.” Frank Newman, former U.S. deputy secretary of the Treasury, said, “The ability to deal with global financial issues quickly and with cooperation between the two sides is very important.”

An article in China Daily, addressing Xi’s upcoming meeting with Obama, said yesterday: