The central banks of China, Japan and Republic of Korea have agreed to meet annually to discuss financial issues to promote financial stability in the region, the People's Bank of China (PBOC) said on its website on Wednesday.

The meeting, held annually, aimed to enhance the dialogue mechanism that extended for years among the three sides, according to a statement jointly announced by the three central banks.

Central bank governors would exchange opinions on the regional financial situation and issues of common concern at the meeting, according to the statement.

"The enhanced communication would help promote currency and financial stability in the region", said the statement.

The PBOC would host the first meeting in 2009.

(Xinhua News Agency December 11, 2008)