FRANKFURT, Germany
Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial talks in Frankfurt over the weekend.
"We welcome the fact that
the Chinese side is also committed to this in our Joint Statement, because
solutions are inconceivable without China as such an important player in world
politics," German Finance Minister Christian Lindner said on Sunday, after
his meeting with Chinese Vice Premier He Lifeng.
Neither provided further
details on the rules for the restructuring plans and the joint statement did
not give specifics.
During Sunday's talks, Germany
and China showed their determination to expand market access opportunities
between both countries.
"This creates
opportunities on both sides for more responsible trade and investment,"
German Finance Minister Christian Lindner said. China is willing to work with
Germany to further "mutually beneficial" cooperation, and inject more
"positive energy" into their partnership, the official Xinhua news
agency reported on Sunday, citing He.
Both sides will support German
financial institutions' conducting renminbi (RMB) business, and the lifting of
bilateral restrictions and possible obstacles for cross-border transaction.
High-ranking representatives of the countries' central banks and supervisory
authorities attended the third financial dialogue between Berlin and Beijing,
as well as companies' representatives.
"It is important for me
to emphasize that for the first time in the history of the Financial Dialogue
we have established a Financial Roundtable with representatives of important
financial institutions and private companies," Lindner said.
Lindner proposed to increase
the frequency of financial dialogues between China and Germany, to have these
meetings annually instead of every two years, as both countries want faster
progress. "In politics, two years is a long time, but in financial
matters, two years is an eternity," he said.
The meeting took place in
Frankfurt, as Germany want to further strengthen this city as an European hub
for financial services, the finance minister added.
Deutsche Borse Group expressed
its support for the meeting's outcomes, saying the bank welcomes German
business entities to actively participate in the Chinese interbank market,
including investing in RMB bonds, using RMB bonds as collateral, and
participating in the Chinese interbank foreign exchange market.
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