China, Brazil to launch annual dialogue on financial affairs

China and Brazil has decided¹ to hold an annual dialogue between the finance ministries² of the twocountries in an effort to boost bilateral³ economic cooperation, China's finance ministry⁴ said Friday.

　　Under a memorandum⁶ of understanding signed Thursday by Chinese and Brazilian finance officials, ministers or deputy ministers of finance of the two countries will meet once a year, the Chinese ministry said in a statement.

　　According to the memorandum, other government departments may be invited to join the meeting of finance ministers if necessary.

　　The topics of discussion will include the macro-economic situation in the two countries, their fiscal⁷ policies, financial reform and cooperation in the international financial sector⁸, according to the document.

　　The Chinese Ministry of Finance did not indicate when the first meeting will take place.

　　China and Brazil are globally significant and their economies share a sound basis for cooperation, according to the memo⁵.

　　Strengthening bilateral dialogue is not only conducive⁹ to the development of China and Brazil's strategic partnership¹⁰, but is also important to the stability and development of the world economy, said the memo.

　　China has also decided to hold annual dialogues on finance withGermany, Britain, Russia and other countries