Chinese Financial Minister Jin Renqing said Monday China and Britain should cement fiscal and financial cooperation to help reduce instability in global economic development.

"The world economy is developing sound momentum, but still faces various challenges," he told his visiting British counterpart Gordon Brown.

Jin said Sino-British fiscal and financial ties have developed smoothly in recent years and gained a strong boost when Chinese Premier Wen Jiabao visited Britain last May.

Jin said he hoped China would work with Britain under the G20 group's plan to establish a fair and reasonable framework for global economic development and give developing countries more right to speak in the international financial and economic arena.

Source: Xinhua