Japan, China finance ministers to meet in Beijing as relations improve
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Japanese Finance Minister Taro Aso (left) and Chinese counterpart Liu Kun are expected to discuss financial cooperation, a sign that ties are improving amid Sino-US trade tensions.
PHOTOS: AFP, REUTERS
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TOKYO (REUTERS) - Finance ministers and officials from Japan and China are to meet in Beijing on Aug 31, a Japanese official said, a sign of improving ties amid Sino-US trade tensions.
Japanese Finance Minister Taro Aso and his Chinese counterpart Liu Kun are expected to discuss financial cooperation, including reviving a dormant currency swap arrangement.
Japan and China have begun discussing a resumption of the arrangement, which means a swap worth about three trillion yen (S$37 billion), far bigger than the previous US$3 billion (S$4 billion) line.
Mr Aso, who also serves as deputy prime minister, may meet separately with Chinese Vice-Premier Liu He, who is in charge of trade talks with Washington, Kyodo news agency reported.
That suggests the two sides may discuss trade tensions with the United States, and how trade protectionism threatens global economic growth, a shared concern among G-20 economic powers.
The meeting comes after US and Chinese officials ended two days of talks on Thursday, with no major breakthrough, as their trade war escalated with the activation of another round of duelling tariffs on US$16 billion worth of each country's goods.
