聯 合 聲 明

第五次中印財金對話
2011年11月8日，新德里

    根據2005年4月溫家寶總理訪印期間兩國政府簽署的《中華人民共和國政府和印度共和國政府關於啟動中印財金對話機制的諒解備忘錄》，中印雙方已分別於2006年4月、2007年12月、2009年1月及2010年9月成功舉行四次中印財金對話。第五次中印財金對話于2011年11月8日在新德里舉行。

    雙方就全球宏觀經濟形勢及應對政策措施交換了意見，特別就當前全球經濟面臨的風險及中印兩國在危機過後的復蘇階段中所發揮作用進行了交流。雙方就國際貨幣體系改革及強勁、可持續與平衡增長框架等二十國集團議題進行了深入討論。

    宏觀經濟形勢與政策應對措施

    雙方均認為全球經濟正處於關鍵時期。由於一些發達經濟體主權債務是否可持續存在不確定性，全球經濟增長放緩，下行風險加劇。新興經濟體雖然增長相對強勁，但受到發達經濟體增長放慢的影響，已出現增速放緩的明顯跡象。面臨這些挑戰，雙方認為在此關鍵時期，加強國際政策合作非常必要。兩國將採取一切必要措施促進國內經濟增長。同時，兩國支持二十國集團為此所作的努力，承諾落實戛納中短期政策行動計劃，推動全球經濟實現強勁、可持續及平衡增長。

    中印財政改革

    雙方分享了推動可持續增長的財政政策經驗。印方認識到基於稅收與支出改革的財政整頓是實現經濟可持續增長的關鍵，已開始進行財政改革，強調實施審慎支出管理，資金重點支持基礎設施等優先發展領域，調整改進稅收結構與商業模式等。2011年，中國政府繼續實施了積極的財政政策，並適時適度地調整政策力度、節奏與重點，以加快轉變經濟發展方式為主線，處理好保持經濟平穩較快發展、調整經濟結構和管理通脹預期三者關係，更加注重穩定物價總水平，進一步擴大內需，不斷增強經濟發展的協調性、可持續性和內生動力。

    二十國集團中的中國與印度

    雙方就戛納峰會成果交換了意見，並強調了二十國集團作為世界經濟合作主要平臺的重要性。雙方認識到強勁、可持續及平衡增長框架在促進國際宏觀經濟政策協調方面發揮的積極作用。雙方敦促發達經濟體採取負責任的宏觀經濟政策，妥善處理其債務和金融穩定問題，促進投資，創造需求。雙方同意在G20框架下加強協調和合作，共同努力，促進兩國和全球經濟的穩定和增長。

    大宗商品價格

    大宗商品價格，特別是糧食和能源價格過度波動對於當前全球經濟復蘇帶來風險和挑戰。我們支持國際社會加強合作，通過減少價格扭曲和進一步規範金融市場，確保現貨市場的穩定與強勁發展。國際社會應該共同努力，提高生産能力，促進生産者與消費者有效對話以平衡供需關係，並增加對發展中國家的融資與技術支持。應加強金融衍生品市場監管，以防止可能破壞市場穩定的活動。

    雙邊金融合作

    雙方重申了深化兩國金融合作，促進雙邊全面經濟合作的承諾。雙方對兩國監管機構之間日益加強的合作表示歡迎，並承諾為進一步促進兩國金融機構合作創造良好環境。中方介紹了加強金融控股公司監管的經驗，雙方還就金融普惠倡議進行了討論。

    中印兩國承諾加強對話，增進戰略互信，深化雙邊合作以取得務實成果。雙方一致同意于2012年第四季度在北京舉行第六次中印財金對話。

     中華人民共和國政府　　　　　　　　　　　　　　　 　 印度共和國政府

Joint Statement

The Fifth India-China Financial Dialogue

New Delhi, 8th November, 2011

    In accordance with the MoU on the Launch of the Financial Dialogue between the People’s Republic of China and the Republic of India, signed during Chinese Prime Minister Wen Jiabao’s visit to India in April 2005, the two sides have since successfully held four Financial Dialogues in April 2006, December 2007, January 2009 and September 2010, respectively. The Fifth India-China Financial Dialogue was held on 8th November 2011, in New Delhi.

    Both sides exchanged views on the global macro economic situation and policy responses, with specific reference to current risks to the global economy and the role of India and China in the post crisis recovery phase. Both sides had in-depth discussions on G20 issues including reforms in the International Monetary System and the Framework for Strong, Sustainable and Balanced Growth.

    Macroeconomic situation and policy responses

    The two sides recognised that the global economy is in a critical phase. Global economic growth has weakened and downside risks have heightened due to uncertainty over the sustainability of sovereign debts in some advanced economies. In emerging markets, where growth is relatively stronger, there are clear signs of a slowing as developments in advanced economies begin to weigh on these countries. In the face of these challenges, both sides recognised that strengthening of international policy cooperation is needed at this juncture. While we will take all necessary measures in our respective countries to help maintain global growth, we support G20 efforts in this regards and are committed to the Cannes Action Plan for short and medium term policy actions towards strong, sustainable and balanced growth.

    Fiscal Reform in both Countries

    Both sides shared their experiences in fiscal policy for sustaining growth process. Recognizing the fact that fiscal consolidation anchored on the process of reforms in tax and expenditure is key to sustaining macroeconomic outcomes, India is focusing on prudential expenditure management, measures to reallocate resources to priority development sectors, particularly infrastructure, rationalization of tax structure and re-engineering the business processes for providing an enabling environment for better tax compliance. Focusing on accelerating the transformation of economic growth model, China continues with proactive fiscal policy in 2011, and adjusts its intensity, pace and priorities to reasonable extent and at appropriate time to properly handle the relationship between economic growth, structural adjustment and management of inflation expectation, give more emphasis to price stability and further expand domestic demand, in order to ensure the coordinated, sustainable and endogenous development.

    India and China in the G20

    Both sides exchanged views on the outcomes of the Cannes Summit and underscored the importance of the G20, as the premier forum for international economic cooperation. We recognize the signature effort of the G20 Framework for Strong, Sustainable and Balanced Growth in fostering international macroeconomic policy coordination. Two sides urged the developed economies to adopt responsible macroeconomic policies to handle the issues of debt and financial stability properly, promote investment and create demands. Both sides agreed to strengthen coordination and cooperation in the G20 for the stability and growth of both the countries and the global community.

    Commodity Prices

    Excessive volatility in commodity prices, particularly those for food and energy, poses risks and challenges for the ongoing recovery of the world economy. We support the international community in strengthening cooperation to ensure stability and strong development of physical market by reducing distortion and further regulate financial market. The international community should work together to increase production capacity, strengthen producer-consumer dialogue to balance supply and demand, and increase support to the developing countries in terms of funding and technologies. The regulation of the derivatives market for commodities should be accordingly strengthened to prevent activities capable of destabilizing markets.

    Bilateral Financial Cooperation

    Both sides reiterated their commitment to deepening financial cooperation between the two countries with an aim of promoting overall bilateral economic cooperation. Both sides welcomed the enhanced cooperation between regulatory agencies, and committed to creating an enabling environment to promote further cooperation of financial institutions between the two countries. The Chinese side shared its experiences in the area of regulatory oversight schemes for Financial Holding Companies. Two sides also discussed initiatives towards financial inclusion.

    India and China committed themselves to enhance the dialogue process to deepen mutual cooperation to achieve practical outcomes and strengthen strategic mutual trust. Both sides agreed to hold the Sixth India-China Financial Dialogue in China in the last quarter of 2012.

         For the Government                         For the Government

   of the People’s Republic of China            of the Republic of India