China silent on G20 economic imbalance indicators

The Group of 20 major economies must make efforts to tackle "malicious" capital flows that could sow the seeds of global inflation, Chinese Finance Minister Xie Xuren said in remarks reported on Sunday.
Summarising what Xie told fellow G20 ministers at weekend talks in Paris, the official Xinhua news agency did not mention the exclusion of the real effective exchange rate and of foreign currency reserves from a list of indicators to judge whether an economy is unbalanced.
G20 ministers dropped the two benchmarks at China's insistence.
Xie said China would press on with structural reforms to transform its economy and achieve a better growth pattern.
At a meeting attended by top Communist Party leaders in Beijing on Saturday, President Hu Jintao described China's growth as remarkable but said its development was "unbalanced, uncoordinated and unsustainable," Xinhua reported.
At the G20 talks, central bank governor Zhou Xiaochuan repeated his call for a greater role for the Special Drawing Right, the International Monetary Fund's in-house unit of account, as part of reform of the global monetary system, Xinhua said.