China and Japan Sunday held a day-long second high-level economic dialogue on global financial crisis and vowed to work together to boost bilateral trade relations.

Chinese Vice Premier Wang Qishan (R) shakes hands with Japanese Foreign Minister Hirofumi Nakasone prior to the meeting in Tokyo, capital of Japan, June 7, 2009. [Xinhua]

"This dialogue enabled in-depth discussions over the economic and financial situation, environmental and energy cooperation, trade and investment cooperation and regional and international economic issues, reaching a lot of important consensus and achieving positive results," Wang Qishan, Chinese Vice Premier said at a joint press conference.

"In the current context of the grim challenges posed by the ever spreading international financial crisis, it is necessary for China and Japan to vigorously follow through the consensuses of the G20 Summit in Washington D.C. and London," Wang said, adding " more effective measures so as to ensure financial market stability while helping our respective national and the global economy to resume growth."

As the world's No. 2 and No. 3 economies, Japan and China underlined their role in regional and international economic and financial cooperation and vowed to fight against protectionism.

"We will work together with the rest of the world for a comprehensive and balanced outcome of the WTO DDA negotiations as early as possible while opposing trade and investment protectionism," Wang said.

The two sides agreed to push forward the building of the "10+3" regional foreign exchange reserve pooling and the Asian bond market, and to provide funding support to businesses from both countries to jointly explore third-country markets.

At the opening of the dialogue, Wang said "We hope that both countries will cooperate hand-in-hand for financial stability and economic growth in Asia and the world."

The one-day dialogue, co-chaired by Wang and Japanese Foreign Minister Hirofumi Nakasone, opened here Sunday. It was attended by senior officials from the two countries.

The dialogue mechanism, first held in Beijing in December 2007, was jointly launched by Chinese Premier Wen Jiabao and then Japanese Prime Minister Shinzo Abe during Wen's trip to Japan in April 2007.