Chinese Finance Minister Jin Renqing (R) shakes hands with his Japanese counterpart Tanigaki Sadakazu during their meeting in Tianjin, north China, June 25, 2005. Jin and Sadakazu were in Tianjin to attend the Asia-Europe Finance Ministers Meeting, part of the Asia-Europe Meeting, slated for June 26. (Xinhua Photo)

    TIANJIN, June 25 (Xinhuanet) -- Chinese and Japanese finance ministers agreed on Saturday to work for the establishment of a bilateral financial dialogue mechanism and hoped the first ministerial dialogue could be held "at the earliest possible time."

    Chinese Finance Minister Jin Renqing and his Japanese counterpart Tanigaki Sadakazu agreed that the two ministries would conduct further consultations on the details of the issue, including the modality and scope, at the working level, after the Asia-Europe Finance Ministers Meeting due to open here on Sunday.

    According to a press release issued after their talks, China and Japan are increasingly dependent on each other in the economic fields in the process of economic globalization, and are facing opportunities and challenges in economic development.

    To further promote financial cooperation between China and Japan, the two ministers made the decision to enhance cooperation between the two ministries, and "agreed to work for the establishment of a bilateral financial dialogue mechanism, which they believed would help promote prosperity in Asia and the world at large."

    The two ministers are here to attend the Sixth Financial Ministers Meeting of the Asia-Europe Meeting. Enditem