Japan's finance ministry said Friday that China has cancelled a top annual finance meeting with Japan and South Korea, as diplomatic tensions between Tokyo and Beijing soar.

An official with the ministry told Agence France Presse that "China has informed us that the meeting won't be held" on the sidelines of an Asian Development Bank meeting in Delhi next month.

Chinese Premier Li Keqiang was quoted as telling French President Francois Hollande on Friday that Beijing wants more balanced trade with France and is willing to buy more French products.

Hollande was on the second day of a two-day visit to China aimed at rebalancing trade relations between the economic powers.

Spain's government, seeking to cut its deficit amidst a double-dip recession, is to unveil new measures Friday aimed at reviving the economy, a day after registering record unemployment.

Prime Minister Mariano Rajoy's government is to unveil its latest package of economic reforms at 2:00 pm (1200 GMT), a day after violent protests over news that unemployment in the eurozone's fourth-largest economy had surged past 27 percent in the first quarter of 2013 -- a new record.

The Bank of Japan held off announcing any new policy measures Friday as it wrapped up its first meeting since unveiling a huge stimulus package this month aimed at stoking the economy and beating deflation.

In a brief, two-paragraph statement the central bank said its widely expected decision to stand pat was reached by a unanimous vote by its board.

Europe must implement "crucial reforms" to overcome the eurozone debt crisis, generate economic growth and avoid stagnation, the International Monetary Fund warned Thursday.

IMF First Deputy Managing Director David Lipton, speaking in central London, also praised "important steps" taken by eurozone governments to combat the region's long-running crisis.

Spain's unemployment rate surged past 27 percent to a new record in the first quarter of 2013, official data showed Thursday as a deep recession ravaged the eurozone's fourth-largest economy.

A record unemployment number was also expected to emerge later Thursday in France, the eurozone's second-biggest economy.

The German government insisted Thursday that Europe's biggest economy could "look to the future with optimism", despite recent disappointing economic data and falling confidence.

"2013 will be a good year," Economy Minister Philipp Roesler said, unveiling a slight upgrade in Berlin's growth forecast for the current year to 0.5 percent from a previous prognosis of 0.4 percent.

China agreed to buy 60 Airbus planes in a memorandum of understanding signed Thursday by French President Francois Hollande and Chinese President Xi Jinping in front of reporters.

A significant portion of the planes would be manufactured in China at an Airbus factory in Tianjin, 150 kilometers (93 miles) from the capital, an industry source told Agence France Presse on condition on anonymity.

Indonesian investigators have arrived in Washington to quiz a World Bank managing director as a witness over a bank bailout that led her to quit as finance minister, an official said Thursday.

Sri Mulyani Indrawati, once considered Indonesia's top reformist, was among several officials who authorized the rescue of the mid-sized Bank Century, which was bailed out during the onset of the financial crisis in 2008.

Cyprus's cabinet on Wednesday approved the island's 10-billion-euro EU-IMF bailout deal that will now be tabled before parliament for a vote expected to be held before mid-May.

"The Cabinet has approved the loan agreement and the Memorandum to be forwarded to parliament for a preliminary discussion at committee level," government spokesman Christos Stylianides told reporters.