The Donald Trump administration has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring US technologies and intellectual property and roll back high-tech industrial subsidies.
Japan told its G20 counterparts that protectionism benefits no country and was among key risks to the global economy as it would shrink trade, Kihara told reporters on Monday after attending the first day of the two-day gathering.
The notification follows hectic parleys between India and Switzerland for introduction of AEOI (Automatic Exchange of Information) under guidance of G20, OECD (Organisation for Economic Cooperation and Development) and other global organisations.
G20 summit: Mindful of the needs of emerging economies, like India, G20 leaders called for the completion of International Monetary Fund (IMF) quota reforms and vouched for a new quota formula to be implemented by 2019.
The informal interaction between Modi and Xi came a day after a top Chinese foreign ministry official had said that the "atmosphere" is "not right" for a formal bilateral meeting between them in Hamburg.
PM Modi was among the many dignitaries present at the Twelfth G20 Summit held at Hamburg, northern Germany. US President Donald Trump, French President Emmanuel Macron, Canadian PM Justin Trudeau and Australian PM Malcolm Turnbull were also present.