G7 Information Centre
Summits |  Meetings |  Publications |  Research |  Search |  Home |  About the G7 and G8 Research Group
Follow @g7_rg

Fact Sheet
More Fact Sheets
See also: Analytical Studies

G7/8 Meetings and the People's Republic of China

September 1999 to September 2004
Compiled by Anthony Prakash Navaneelan, G8 Research Group
September 28, 2004

The People's Republic of China (PRC) has participated as a full and equal member in all of the meetings listed below unless otherwise noted. The PRC is not now, nor ever has been, a member of the G7/8. It is, however, a member of a larger and separate organization known as the G20 finance ministers and central bank governors.

For further information on the relationship between the G7/8 and the PRC, please see "The G7/8 and China: Toward a Closer Association," by John Kirton in Guiding Global Order: G8 Governance in the Twenty-First Century, edited John Kirton. Joseph Daniels and Andreas Freytag (Ashgate Publishing, 2001).

[top of page]

2005

January PRC assumes the annual presidency of the G20 from Germany

To be announced G20 Finance Miinisters and Central Bank Governors meeting (Shanghai, tentative)

[top of page]

2004

November 19–24 G20 Finance Ministers and Central Bank Governors meeting, Berlin

October G20 Finance and Central Bank Deputies, Frankfurt

October 1–3 G7 Finance Ministers and Central Bank Governors meeting, Washington DC

This is the first meeting at the ministerial level to which the PRC has been invited to participate, on a consultative basis. The discussions are described as informal. The PRC will attend only the Friday night working dinner with the G7. It will be represented by Jin Renqing, Minister of Finance, and Zhou Xiaochuan, governor of the People’s Bank of China. The PRC has been invited to four previous G7 deputy-level meetings since September 2003.[1]

April 23–24 G7 Finance Ministers precursor meeting with PRC, Washington DC

Topics included the G7's desire for the PRC to float its currency exchange rate and the impact of China's rapid industrialization on manufacturing and steel prices.[2]

March 29–30 11th meeting of the Financial Stability Forum, Rome[3]

March 3–4 G20 Finance and Central Bank Governors meeting, Leipzig, Germany

[top of page]

2003

October 26–27 G20 Finance Ministers and Central Bank Governors meeting, Morelia, Mexico

September 24–25 G20 Finance and Central Bank Deputies meeting, London

September 20 G7 Finance Ministers precursor meeting with PRC, Dubai

This was the first time the PRC was invited to a precursour session with the Deputies to discuss issues including foreign exchange and the global economy, notably the PRC's influence in the manufacturing sector. It has been speculated that the talks included a discussion of the PRC joining the G7 economic meetings.[4]

September 10 10th meeting of the Financial Stability Forum, Paris

June 1–3 Enlarged Dialogue sessions at the G8 Summit, Evian, France

PRC was invited by French president and G8 host Jacques Chirac to participate in an enlarged leaders-level dialogue between the G8 and 13 other leaders from developing countries, alongisde but separate from the G8 Summit. The PRC was represented by President Hu Jintao. It was the highest level contact between G8 and Chinese national leaders at a G8-related forum.

May 30 300th anniversary of St. Petersburg and informal precursor to Evian Summit, Russia

Russian president Vladimir Putin invoted more than 40 world leaders to St. Petersburg to celebrate the 300th anniversary of the city's founding. While this was not an official G8 gathering, all G8 leaders were present, as were many heads of state participating in the enlarged dialogue forum at the G8 Evian Summit the following day; the event is thus considered an unofficial G8 precursor to the Evian Summit. This was the first overseas visit by PRC president Hu Jintao and by the General-Secretary of the Chinese Communist Party. Several informal dialogues occurred between China and G8 leaders.[5]

May 26 Seminar on Sovereign Debt Restructuring, Mexico City

March 24–25 9th meeting of the Financial Stability Forum, Berlin

March 3–4 G20 Finance and Central Bank Deputies meeting, Cancun

[top of page]

2002

September 3–4 8th meeting of the Financial Stability Forum, Toronto

July 16–17 G20 Finance Ministers and Central Bank Governor meetings, New Delhi

March 25–26 7th meeting of the Financial Stability Forum, Hong Kong

[top of page]

2001

November 16–17 G20 Finance Ministers and Central Bank Governors meeting, Ottawa

September 6–7 6th meeting of the Financial Stability Forum, London

March 22–23 5th meeting of the Financial Stability Forum, Washington

[top of page]

2000

October 24–25 G20 Finance Ministers and Central Bank Governors meeting, Montreal

September 7–8 4th meeting of the Financial Stability Forum, Basel, Switzerland

[top of page]

1999

December 15–16 G20 Finance Ministers and Central Bank Governors meeting, Berlin

The PRC participated as a founding member of the inaugural meeting of the G20, represented by Xiang Huaicheng, Minister of Finance, and Dai Xianglong, Governor of the People’s Bank of China.

September 15 2nd meeting of the Financial Stability Forum, Paris

April 14 1st meeting of the Financial Stability Forum, Washington

Notes:
[1] Press Conference with Foreign Ministry Spokesman Kong Quan, Ministry of Foreign Affairs of the People’s Republic of China (Beijing), September 23, 2004.
[2] Alan Wheatley, “Analysis-G7: China Takes Next Steps in Long Courtship,” Reuters, April 19, 2004.
[3] The Financial Stability Forum (FSF) was created in response to the recommendation made at the meeting of the G7 Finance Ministers and Central Bank Governors on October 3, 1998, to establish new structures for enhancing co-operation among the various national and international supervisory bodies and international financial institutions. The goal was to promote stability in the international financial system. The FSF was endorsed by the G7 finance ministers and central bank governors at the meeting in Bonn on February 20, 1999, and held its first meeting in Washington DC, attended by the G7 states as well as the Netherlands, Singapore and Hong Kong. The Hong Kong Monetary Authority can be considered as representing China, which regained sovereignty over Hong Kong in 1997. Financial Stability Forum, "Genesis of the FSF," September 14, 2004.
[4] Alan Wheatley, “Analysis-G7: China Takes Next Steps in Long Courtship,” Reuters, April 19, 2004.
[5] “President Hu Set for Global Debut.” CNN.com, May 26, 2003.

[top of page]

Back to: Analytical Studies

G8 Centre
Top
This Information System is provided by the University of Toronto Library and the G8 Research Group at the University of Toronto.
Please send comments to: g8info@library.utoronto.ca
This page was last updated June 04, 2010.

All contents © 2004. University of Toronto unless otherwise stated. All rights reserved.