Japan and China said they were ready Sunday to back the International Monetary Fund's efforts to resolve Europe's debt crisis and agreed to coordinate their positions on responding to its call for more eurozone aid from member countries.
Finance Minister Jun Azumi and Chinese Vice Premier Wang Qishan also agreed to boost cooperation by facilitating Japan's purchase of Chinese government bonds and encouraging the private sector to use both the yen and yuan rather than the dollar to settle bilateral trade when their financial authorities hold their first meeting Monday in Beijing.
Azumi and Wang, who is in charge of macroeconomic and financial affairs, met in the Chinese capital ahead of a meeting of finance chiefs from the Group of 20 industrialized and emerging economies to be held from Feb. 25 to 26 in Mexico, where financial assistance for the eurozone will top the agenda.