BEIJING -- The top legislature on Saturday ratified an agreement on running an office to coordinate macroeconomic policies between ASEAN countries, China, Japan and Republic of Korea.

The ratification concerning the ASEAN+3 Macroeconomic Research Office (AMRO) was declared at the close of the National People's Congress (NPC) Standing Committee's bi-monthly session.

The AMRO was established, without the agreement on its operation in place, in 2011 following the advocacy of the ASEAN+3 financial ministers meeting.

The agreement, detailing the functions, organization and share of membership dues, was endorsed by China on October 10, 2014 in Washington.

The State Council, China's cabinet, approved the agreement and submitted it to the NPC Standing Committee for ratification.