China backs IMF voting changes
Finance minister says more is needed to strengthen rights of developing regions.

HANOI, Vietnam (Dow Jones) -- China supports proposed changes to the International Monetary Fund' s voting rights system but they don' t go far enough to empower some developing regions, China' s finance minister said Thursday.

" We welcome the changes as a good start," Jin Renqing said on the sidelines of the 13th annual meeting of Asia-Pacific Economic Cooperation finance ministers.

" But it doesn' t strengthen the rights of the developing regions, especially Africa, enough," Jin said.

The IMF executive board has recommended two phases of reform to its board of governors, which is expected to vote on the proposals at the fund' s annual meeting Sept. 19-20 in Singapore .

Initially, the IMF would grant a greater role to China , Turke , Mexico and South Korea - countries considered to be the most underrepresented. Over two years, the fund also plans to reconfigure voting shares for other members, including poor African nations and fast-growing countries such as Malaysia and Indonesia .

-By Denis McMahon, Dow Jones Newswires; +86 1381 897 1542; denis.mcmahon@ dowjones.com (END) Dow Jones Newswires 09-07-06 0312ET Copyright (c) 2006 Dow Jones & Company, Inc. Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.