Finance ministers and central bank governors from China, Japan and South Korea vowed Monday to employ "targeted" measures for those countries most affected by the COVID-19 pandemic, and committed to foster fiscal and financial stability.

In a joint statement issued after a virtual meeting held on the sidelines of the Asian Development Bank's (ADB) annual gathering, the ministers pledged to achieve inclusive recovery, preserve long-term fiscal sustainability and maintain financial stability.

Responses to the COVID-19 crisis, universal health coverage, climate change, high-quality infrastructure and debt transparency and sustainability in emerging Asia are expected to top the agenda as the ADB meets.