FACTBOX - What was said on FX at Washington G7

WASHINGTON (Reuters) - The G7 communiqu released in Washington repeated a call for exchange rates to reflect economic fundamentals and cited China again by name, using the exact same wording as a statement issued after a meeting in Essen, Germany, in February.

In post-G7 news conferences, French Finance Minister Thierry Breton went further than others when commenting on the basic G7 message, but the collective G7 line remained that markets should take account of more balanced global growth, with U.S. activity easing, Europe going strong and Japan's recovery continuing.

Below is a compendium of what was said, following by details from the February meeting in Essen and recent foreign exchange movements:

G7 COMMUNIQUE, APRIL 13, WASHINGTON:

For a full text, please click on ID:nN13244665

"We reaffirm that exchange rates should reflect economic fundamentals. Excess volatility and disorderly movements in exchange rates are undesirable for economic growth. We continue to monitor exchange markets closely, and cooperate as appropriate. In emerging economies with large and growing current account surpluses, especially China, it is desirable that their effective exchange rates move so that necessary adjustments will occur."

Also, the communiqu stated that global economic growth was becoming more even-keeled and said:

"We remain confident that the implications of these developments will be recognized by market participants and will be incorporated in their assessments of risks."

U.S. TREASURY SECRETARY HENRY PAULSON:

On yuan

"China is a very major economy in terms of trade in goods and services, but their capital markets and their currency are not yet integrated to the global economy."

"And so our approach has been to push for more flexibility, more -- frankly -- appreciation of the renminbi in the short term, and then in the intermediate term to make the case for China taking the steps that will allow it to have a truly market-determined currency."

"It is crucial China move now with greater urgency."

On yen

Asked about the yen, Paulson declined to reply specifically, but said Japan's Finance Minister Koji Omi and Bank of Japan Governor Toshihiko Fukui "were quite confident that Japan's economy was on a sustainable path of recovery" and that that was no different from the case when the G7 met in February.

SENIOR JAPANESE FINANCE MINISTRY OFFICIAL: