Chinese Foreign Ministry spokesman Liu Jianchao said on Tuesday that China and Japan had agreed to establish a bilateral financial dialogue mechanism and would discuss about details at the working level.

"The two sides expressed the hope that the first ministerial dialogue could be held at the earliest possible time" after Chinese Finance Minister Jin Renqing met with his Japanese counterpart Tanigaki Sadakazu in Tianjin last Saturday, Liu told a regular press conference.

In a bid to implement Chinese President Hu Jintao's proposals on promoting Sino-Japanese ties, the two finance ministers met on the eve of the Sixth Asia-Europe Finance Ministers' Meeting held in the northern China port city of Tianjin on Sunday, Liu said.

To further promote financial cooperation between China and Japan, the two ministers agreed to enhance cooperation between the two finance ministries, which "will help promote prosperity in Asia and the world at large," Liu said.

The two ministers agreed that China and Japan are increasingly dependent on each other in the economic field in the process of economic globalization, and are facing opportunities and challenges in economic development, Liu said.

Source: Xinhua