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China, Japan finance ministers concerned about volatile commodity prices

Lou Jiwei, China's Finance Minister.

[BEIJING] The finance ministers of China and Japan raised concerns on Saturday about volatile commodity prices and the dangers that they pose to the global economy. "Both sides agreed that the global economy in general is still in profound structural adjustment, and expressed concerns about the risks posed by volatile commodity prices and economic policy spillover of major developed economies which may affect the global economic recovery," said a joint statement released following a meeting between Chinese Finance Minister Lou Jiwei and Japanese Finance Minister Taro Aso in Beijing.

The statement did not mention the recently launched, China-led Asian Infrastructure Investment Bank but said the two sides will promote infrastructure development in Asia "through coordination with development financial institutions, on the basis of common interests".