China says it is prepared to discuss moderate goals to combat climate change at next week's summit of leaders from the world's eight leading industrialized nations.

Finance ministers from the Group of Eight industrialized nations ended a two-day meeting in Osaka, Japan Saturday with a wide-ranging statement addressing oil and food prices, and troubled financial markets.

ICC has welcomed progress negotiated at the G8 Summit last week in Heiligendamm, Germany addressing the challenge of climate change.