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China, India launch financial dialogue mechanism

BEIJING, April 14 (Xinhuanet) -- The Chinese Ministry of Finance has said it has set up a financial dialogue mechanism with its India counterpart in a bid to boost their exchanges and cooperation in major international financial issues.

The mechanism will help promote the global economy in a balanced and orderly manner, according to a statement posted on its website by the Chinese ministry (www.mof.gov.cn).

The move also indicates that China has made new progress in cementing financial exchanges and cooperation with other developing countries.

The Chinese and Indian government officials signed a Memorandum of Understanding on Financial Dialogue during the just-concluded visit to India by Chinese Premier Wen Jiabao.

The Chinese ministry said the dialogue between the two countries will be held once every 12 to 18 months at a deputy ministerial level or other levels the two sides agreed upon.

Their dialogue will cover the economic situation of the two countries, their financial policies, financial reform and exchanges on matters related to international economic forums and institutions, according to the statement.

China has set up financial dialogue mechanism with the United States, Britain and the European Union, Britain, France on a regular basis at ministerial levels.

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