Xinhua - English

ST. PETERSBURG, Russia, June 10 (Xinhua) -- The discussion between finance ministers of the Group of Eight (G8) major economic powers and six other countries laid the groundwork for the upcoming top-level meeting of the G8 and some developing countries, China's top financial official said on Saturday.

Russia is chairing the G8 presidency this year and will host a summit of G8 leaders in St. Petersburg in mid-July.

Chinese Finance Minister Jin Renqing was joined by top financial officials from India, Brazil, Australia, South Korea and Nigeria at the discussion Saturday with G8 finance ministers, who gathered here for a two-day meeting that focused on global economic growth and energy security.

The ministers had an extensive dialogue on global economic prospects and discussed in detail ways to improve public finance management and achieve the Millennium Development Goals, Jin said.

The finance ministers of China, Brazil and India also met in St.Petersburg to discuss ways to enhance dialogue between developing countries and the G8 or G7, Jin said.

Earlier in the day, Jin met finance ministers of Germany and Nigeria respectively to discuss bilateral economic and financial cooperation.

These financial discussions were all part of China's global economic diplomacy and global strategy, Jin said. Enditem

Officials who attend the finance ministers meeting of G8 pose for a group photo in St. Petersburg, Russia, June 10, 2006. Prospects for global economic growth and energy security took center stage on Saturday as finance ministers from the Group of Eight (G8) opened their main session of discussion here. Top finance officials from China, India, Brazil, Australia, South Korea and Nigeria also joined the discussion. (Xinhua Photo)

ST. PETERSBURG, Russia, June 10 (Xinhua) -- Finance ministers from China and five other countries discussed global economic prospects and public finance management on Saturday with financial chiefs of the Group of Eight (G8) leading industrialized nations.

Chinese Finance Minister Jin Renqing was joined by top finance officials from India, Brazil, Australia, South Korea and Nigeria at the discussion with G8 finance ministers, who are here for a two-day meeting.

ST. PETERSBURG, Russia, June 10 (Xinhua) -- Prospects for global economic growth and energy security took center stage on Saturday as finance ministers from the world's wealthiest countries opened their main session of discussion here.

The ministers from the Group of Eight (G8) leading industrialized nations gathered for a two-day meeting as part of the preparations in the run-up to the G8 summit which President Vladimir Putin will host in his hometown of St. Petersburg.

G8 ministers meet on energy worries, global imbalances

ST. PETERSBURG, Russia, June 10 (Xinhua) -- Finance ministers from the world's wealthiest countries warned on Saturday of the risks that high energy prices and global imbalances could pose to economic growth although they appeared optimistic about global growth.

The discussion here among the financial chiefs of the Group of Eight (G8) major economic powers centered on global growth prospects and energy security and was seen as adding finishing touches to preparations for a summit of G8 leaders in mid-July.

G8 Ministers' Point:

ST. PETERSBURG, Russia, June 10 (Xinhua) -- Finance ministers from the world's wealthiest countries expressed optimism about global economic growth on Saturday but warned high energy prices and global imbalances could pose risks.

"Global growth remains strong and is gradually becoming more broadly based. However, downside risks from high and volatile energy prices and widening global imbalances remain," the ministers from the Group of Eight (G8) economic powers said in a statement after debating global growth, energy security and other issues here.

ST. PETERSBURG, Russia, June 9 (Xinhua) -- Top finance officials from China and the United States met on Friday to discuss bilateral financial and economic cooperation and agreed to boost dialogue in this field.

During a meeting with U.S. Secretary of the Treasury John Snow, Chinese Finance Minister Jin Renqing said cooperation between the Chinese Finance Ministry and the U.S. Treasury had been fruitful in recent years.

UNITED NATIONS, May 24 (Xinhua) -- UN Secretary-General Kofi Annan has called on the leaders of the "Group of Eight" industrialized countries to adopt at their upcoming summit bold trade liberalization measures while tackling the energy crisis in a way that respects the environment.

"The lack of significant progress on trade is conspicuous, even perilous," Annan said in a letter to the leaders of Canada, the European Union, France, Germany, Italy, Japan, Russia, Britain and the United States, who will meet in St. Petersburg, Russia in July.