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China deserves stronger voice at IMF: Canadian minister

(Xinhua)
Updated: 2009-08-13 16:24

Canada's Minister of Finance Jim Flaherty said Wednesday that China deserved a voice at the IMF commensurate with its economy's weight.

"I would also like to say that I welcome China's membership in the newly expanded Financial Stability Board, and I expect China will continue to make a positive contribution," said Flaherty at the Canadian Financial Forum in Beijing.

Flaherty is on a week-long trip to China to strengthen economic ties between the two countries and preparing for a November visit to China by Canadian Prime Minister Stephen Harper.

"The world economic crisis tested the financial systems of all countries, Canada and China included," said Flaherty, "I am proud to say that our two systems have remained resilient."

"Canada and China have common interests, such as open trade, and global financial stability," he said, adding the two countries should work together to provide global leadership in these areas, in forums such as the G20.

Related readings:  IMF: Euro governments must clean up banks  IMF welcomes China's substantial fiscal support to economy  IMF praises China on stimulus, sees room for more  IMF chief cautious on economic recovery

Flaherty said he had had a number of very successful meetings with Chinese officials during his visit, especially with China's Vice Premier Li Keqiang, which underlined the importance that China attached to its economic ties with Canada.

It was Flaherty's second trip to China as finance minister. He was accompanied by the heads of five major banks and the two biggest insurance companies in Canada, along with Bank of Canada Governor Mark Carney and Canada's Superintendent of Financial Institutions Julie Dickson.

At the forum, Vice Chairman of the China Council for the Promotion of International Trade (CCPIT) Wang Jinzhen said that China would organize hundreds of entrepreneurs to visit Canada next month, at the invitation of Canada China Business Council (CCBC).

The forum was co-sponsored by the CCPIT, the CCBC and the Canadian Embassy in China.