SEOUL - HEADS of the central banks of China, Japan and South Korea have agreed to hold a regular meeting annually to strengthen cooperation in monetary and fiscal policy, the Bank of Korea said on Wednesday.

'The three banks have decided to set up this Tripartite Governors' Meeting to strengthen the existing process of informal dialogue among the three Governors that has taken place for many years,' the three central banks said in a joint statement, which the Bank of Korea distributed.

It said the governors of the People's Bank of China, the Bank of Japan and the Bank of Korea would hold the first meeting in China in 2009. -- THOMSON REUTERS