Top finance officials skip meetings held in Tokyo
Source: Agencies |
October 11, 2012, Thursday
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Print Edition
Print Edition
China's central bank governor and finance minister won't be attending International Monetary Fund and World Bank annual meetings in Tokyo this week in an apparent snub to Japan at a time when the two countries remain at odds over the Diaoyu Islands.
The IMF said yesterday that People's Bank of China Governor Zhou Xiaochuan, who was due to give the event's closing speech on Sunday, had cited scheduling problems for his decision to cancel. The IMF said his deputy, Yi Gang, would represent him at the meeting and make the speech.
The IMF comments confirm a report on Tuesday by Xinhua news agency that China's delegation would not be led by its most senior finance officials.
According to Chinese protocol, only the most senior officials usually lead such trips. Xinhua said that China's delegation would be led by Yi Gang, vice head of the People's Bank of China, and Vice Finance Minister Zhu Guangyao.
Japan's Finance Minister Koriki Jojima, who took on the role just 10 days ago, said it was "regrettable" that the two Chinese officials weren't attending, but added that "from the global perspective, we will continue to have communication with China."
World Bank President Jim Yong Kim said in Tokyo yesterday that he had great faith Japan and China would find a way to cooperate in the future.
Earlier this week, Xinhua also reported that China's state-owned banks - Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China - would not be attending the meetings in Tokyo.
The islands dispute has already spilled over into the economic arena, threatening a shaky economic recovery in Japan after last year's tsunami and nuclear disasters.
Sales of Japanese cars in China plunged in September, with Toyota saying its sales of new vehicles fell 49 percent from a year earlier to 44,100 units. Honda's sales sank 41 percent to 33,931 vehicles. Tens of thousands of Chinese tourists have also canceled trips to Japan.
China is Japan's biggest trading partner, and economists warn that the dispute could erode Japan's economic growth.
The IMF said yesterday that People's Bank of China Governor Zhou Xiaochuan, who was due to give the event's closing speech on Sunday, had cited scheduling problems for his decision to cancel. The IMF said his deputy, Yi Gang, would represent him at the meeting and make the speech.
The IMF comments confirm a report on Tuesday by Xinhua news agency that China's delegation would not be led by its most senior finance officials.
According to Chinese protocol, only the most senior officials usually lead such trips. Xinhua said that China's delegation would be led by Yi Gang, vice head of the People's Bank of China, and Vice Finance Minister Zhu Guangyao.
Japan's Finance Minister Koriki Jojima, who took on the role just 10 days ago, said it was "regrettable" that the two Chinese officials weren't attending, but added that "from the global perspective, we will continue to have communication with China."
World Bank President Jim Yong Kim said in Tokyo yesterday that he had great faith Japan and China would find a way to cooperate in the future.
Earlier this week, Xinhua also reported that China's state-owned banks - Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China - would not be attending the meetings in Tokyo.
The islands dispute has already spilled over into the economic arena, threatening a shaky economic recovery in Japan after last year's tsunami and nuclear disasters.
Sales of Japanese cars in China plunged in September, with Toyota saying its sales of new vehicles fell 49 percent from a year earlier to 44,100 units. Honda's sales sank 41 percent to 33,931 vehicles. Tens of thousands of Chinese tourists have also canceled trips to Japan.
China is Japan's biggest trading partner, and economists warn that the dispute could erode Japan's economic growth.
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