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Beidaihe meeting

Leaders quiz O'Neill on confidence in stronger growth

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China's top leaders had a chance to quiz United States Treasury Secretary Paul O'Neill on Washington's confidence in stronger US economic growth this year.

Later this month, China's Central Committee is scheduled to meet and debate a new proposal for government spending aimed at bolstering flagging domestic growth and compensating for a downturn in export growth.

Last month meetings in Beidaihe ended in disagreement and Chinese leaders postponed a decision while they awaited fresh financial data showing which way the global economy was heading.

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Falling export demand in Japan and the US is being complicated by the fallout from the crash of information technology industries just as Beijing wants to raise more capital for China's state-owned enterprises on the New York bourse.

Mr O'Neill met with President Jiang Zemin, Vice-Premier Li Lanqing, Central Bank governor Dai Xianglong and Vice-Premier Wen Jiabao.

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Today, he will meet with Finance Minister Xiang Huaicheng during the annual meeting of the China-US Joint Economic Committee before leaving for Tokyo.

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