Present there were Premier of the Cabinet Choe Yong Rim, Secretary of the Central Committee of the Workers' Party of Korea Hong Sok Hyong and other officials.

Vice-Premier and concurrently Minister of Finance Pak Su Gil made a report there.

He recalled that Kim Jong Il made public the work in September Juche 79 (1990), clarifying the essential characteristics of finance under socialism and the principle of its management and giving perfect answers to the issues of correctly shaping a state budget and thoroughly implementing it, improving the financial management at industrial establishments, consolidating the currency circulation in the country and strengthening the financial review and control, etc.

The reporter pointed to the fact that Kim Jong Il set forth the unique policy of daily production and financial reviews in June Juche 59 (1970), thus further developing the socialist method of economic management.

Kim Jong Il has wisely led the work to make sure that the finance under socialism served the purpose of meeting the demand of popular masses for independence and ensuring their creative life, thus consolidating the financial foundation of the country, the reporter noted, and continued:

Under the wise guidance of Kim Jong Il the financial and banking work in the DPRK creditably performed its mission and role as a Juche-oriented and popular one, bringing about big progress in the overall financial management.

The reporter called on the officials in the field of finance and banking to thoroughly carry out the party's financial policy and put the accounting on a higher IT basis.