Geithner: China´s policy contributes to stabilizing int´l financial system

Source: Xinhua | 03-31-2009 14:56

WASHINGTON, March 30 (Xinhua) -- Both the United States and China share common interests in a stable international financial system and the policy adopted by China is providing a very stabilizing role in the system, Secretary of Treasury Timothy Geithner said here on Monday.

Geithner made the remarks at a news briefing held in the running-up to the Group of 20 (G-20) financial summit scheduled to be held in London on April 2.

Responding to a question about the upcoming meeting between Chinese President Hu Jintao and U.S. President Barack Obama in London on April 1, Geithner said "the (U.S.) president said it is very important for the United States that we have a very productive, close relationship on the economic and financial front with China."

He said the Obama administration is committed to such a relationship with China.

"We share a huge interest together in a stable, well-functioning and smooth international financial system. China is playing an enormously important role now. And its policy is providing a very stabilizing role in the system," he said.