Policymakers and industry leaders in China on Thursday flagged the need for improved market communication and currency stability in the country while also calling for greater global coordination to deal with economic challenges.
The calls come ahead of a meeting of finance ministers and central bankers from the G20 nations in Shanghai on Friday and Saturday, at which current market turmoil and a global economic slowdown are expected to be key topics of discussion.
The country's vice finance minister, Zhu Guangyao, said China is aware of the spill-over effects of its policymaking on other countries and would be transparent when communicating with the market.
"We do recognise the risk the global economy faces," Zhu said, speaking at a conference held by the Institute of International Finance (IIF) linked to the G20 summit.
"As the second largest economy, we understand our policies have a spill-over effect - that's a fact.
"This is why we have good communication and good policy coordination...we also understand how important it is to correctly communicate with the market," he said, adding that the U.S. should also be aware of such effects when deciding on its own policies.