Q: On the sideline of the Sixth ASEM Financial Ministers' Meeting, Chinese and Japanese Financial Ministers held talks. Please brief us on the talks and the outcome?

A: In order to implement the "five-point proposal" made by President Hu Jintao on promoting the healthy and stable development of China-Japan relations when meeting the Japanese leader in Jakarta, on the sideline of the Sixth ASEM Financial Ministers' Meeting, Chinese Financial Minister Jin Renqing met with Japanese Financial Minister Sadakazu Tanigaki in Tianjin on June 25, 2005.

The two sides emphasized that when the economic globalization is increasingly deepening, China and Japan have become more and more economically interdependent, and both the two economies are confronted with some opportunities and challenges. To further strengthen bilateral cooperation on financial issues and promote the economic prosperity of Asia and the world, the two financial ministers decided to enhance cooperation between the two ministries of finance and actively explore the establishment of China-Japan financial dialogue mechanism.

Both the two sides hoped that the first ministerial dialogue would be held as soon as possible. The two countries will have further discussions at working level on detailed arrangements after the meeting.