China’s Finance Minister Xie Xuren (L) meets with World Bank Group President Robert B. Zoellick ahead of the World Bank Group and the International Monetary Fund (IMF) annual meetings in Istanbul, Turkey, Oct. 5, 2009. The 2009 Annual Meetings of the World Bank Group and the IMF are scheduled to be held in Istanbul on Oct. 6 and 7.
The Emerging Markets magazine has named China’s Finance Minister Xie Xuren as Finance Minister of the Year, Asia 2009, the Ministry of Finance said Monday at its website.
The Emerging Markets believes that China’s quick and proactive fiscal policies implemented in the past year have boosted economic growth and made contributions to global economic recovery, the ministry said.
In a written interview with the magazine, Xie said since the outbreak of the global financial crisis last year, the Chinese government timely and resolutely adjusted its macro-economic polices, carried out proactive fiscal and moderately easy monetary policies, and approved plans aiming to spur domestic consumption.
China’s gross domestic product grew 7.1 percent in the first half of this year, which proved those policies were effective, said Xie.
He told the magazine that an overall recovery in the global economy would be slow with twists and turns, and that China’s economic recovery was still unstable and imbalanced.
But China would stick to the proactive fiscal and moderately easy monetary policies, while focusing on the longer-term development and economic restructuring, he said.
Emerging Markets is part of Euro money Institutional Investor plc. It provides a broad range of news, features, analysis for investors, bankers, brokers working in the developing world.
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