Presided over by Vietnam’s Deputy Minister of Finance, Tran Xuan Ha and China’s Deputy Minster of Finance, Li Yong, the meeting attracted financial and central bank deputies from 10 ASEAN countries as well as three partners of China, the Republic of Korea (RoK) and Japan.

The participants reviewed financial co-operation among ASEAN + 3, including an initiative to develop an Asian bond market, and the Chiang Mai initiative to establish a foreign currency fund to support the balance of payments and maintain adequate reserves of foreign currency in each country. They also discussed the outcome of the ASEAN + 3 meeting in Pusan in the RoK.

China’s Ministry of Finance gave a briefing on the working process and proposed several activities for financial and economic technical supervisors. The ASEAN secretariat presented an annual report on funding and other current issues.

The meeting also prepared the agenda for the informal East Asian Financial Ministers Meeting in Tashkent, Uzbekistan in May 2010.