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HANOI, Oct. 29 (Xinhua) -- The cooperation among China, Japan and the Republic of Korea (ROK) is an important part of East Asian cooperation, and the correct direction of the tripartite cooperation should be firmly kept from a strategic perspective, Chinese Premier Wen Jiabao said Friday at a meeting of leaders of the three countries.The cooperation among China, Japan and the ROK, an important part of East Asian cooperation, has been developing soundly with the efforts of the three countries, Wen said when meeting with South Korean President Lee Myung-bak and Japanese Prime Minister Naoto Kan.The three countries should attach strategic importance to the cooperation among them and steer it in the right direction. Efforts should be made to constantly push forward the cooperation by promoting dialogues, boosting mutual trust and resolving differences, he said.Chinese Premier Wen Jiabao (R), Japan's Prime Minister Naoto Kan (L) and South Korea's President Lee Myung-bak pose for a group photo during their trilateral summit meeting in Hanoi, capital of Vietnam, Oct. 29, 2010.Wen proposed that the three countries push for the completion of the joint study on the China-Japan-ROK free trade area (FTA) by the government, industry and academia by 2012 as planned.He also proposed that the three countries observe the principle of pragmatism and flexibility to properly resolve the differences and conclude a tripartite investment agreement at an early date.The three sides should also boost cooperation in science and technological innovation in key sectors such as energy conservation, environment protection, new energy resources and renewable energy, he said.

BEIJING, Sept. 10 (Xinhua) -- China has decided to postpone a negotiation with Japan on the East China Sea issue as part of its response to the seizure of a Chinese fishing boat, said Foreign Ministry spokeswoman Jiang Yu Friday night.The postponed talks, the second governmental negotiations on the principle common understandings on the East China Sea issue, had been scheduled for mid September, according to Jiang.A Japanese court on Friday, despite Chinese protests, ruled a 10-day detention through Sept.19 against the captain of a Chinese trawler which collided with Japanese patrol ships off the Diaoyu Islands in the East China Sea on Tuesday.The Chinese trawler under detention stops at the harbor of Ishigaki, Okinawa, Japan, Sept. 9, 2010. Japan Coast Guard sent the captain of the Chinese trawler which collided with Japanese patrol ships in waters off Diaoyu Islands to prosecutors in Okinawa Prefecture Thursday morning."The Japanese side has ignored China's repeated solemn representations and firm opposition, and obstinately decided to put the Chinese captain under the so-called judiciary procedures. China expresses strong discontent and grave protest," Jiang said."The Diaoyu islands and its adjacent islets have been Chinese territory since ancient times. Japan's acts have violated the law of nations and basic international common sense, and are ridiculous, illegal and invalid," Jiang said."Japan will reap as it has sown, if it continues to act recklessly," Jiang warned.Chinese Foreign Minister Yang Jiechi on Friday summoned Japanese Ambassador to China Uichiro Niwa, saying China's determination to defend its sovereignty over the Diaoyu Islands and the interests of the Chinese people was unswerving.Yang said China demanded Japan immediately and unconditionally release the boat and all the crew, including the captain.On Tuesday, two Japan Coast Guard patrol ships and the Chinese fishing boat collided in waters off the Diaoyu Islands.No injuries were reported, but the fishing boat was then intercepted by the Japanese patrol.

BEIJING, Sept. 6(Xinhuanet)  - China bucked international trends in both outbound and inward investment, official figures have revealed.China now ranks as the fifth largest global investor in outbound direct investment (ODI) with a total volume of .5 billion, compared to a ranking of 12th in 2008, the Ministry of Commerce said on Sunday.On top of this, foreign direct investment (FDI) this year was set to "surpass 0 billion", compared to billion last year, ministry officials predicted.Globally, foreign investment decreased by almost 40 percent last year amid the financial downturn and is expected to show only marginal growth this year.The growth in both outbound investment from, and inbound investment to, China reflects the nation's rising economic power and attractiveness as an investment destination. China's annual outbound direct investmentThe ministry made the announcements during a press conference held in Xiamen on the upcoming United Nations Conference on Trade and Development (UNCTAD) World Investment Forum and the 14th China International Fair for Investment and Trade. Both forums will start on Tuesday.According to the ministry, China's ODI grew by 1.1 percent from a year earlier to .53 billion, which includes investment of .8 billion in non-financial sectors worldwide, up 14.2 percent year-on-year.Last year was the eighth consecutive year that the nation's ODI had grown. In this period the average annual growth rate stood at more than 50 percent."China is now the fifth largest investing nation worldwide, and the largest among the developing nations," said Shen Danyang, vice-director of the ministry's press department.In 2009, global ODI volume reached .1 trillion, and China contributed about 5.1 percent of the total.But "this is just a beginning." Although the figure is already "quite amazing," the volume is "not large enough" considering China's economic growth and local companies' expanding demand for international opportunities, Shen said."The growth rate (for ODI) in the next few years will be much higher than previous years," Shen said, without elaborating.China's ODI growth witnessed strong momentum this year. From January to June, the ODI in financial sectors was up by 43.9 percent to .84 billion, and in July alone, the ODI recorded .91 billion, the highest this year.Liu Zuozhang, director of the investment promotion agency under the commerce ministry, told China Daily that China's ODI in non-financial sectors would probably grow to billion this year.But while more Chinese companies were investing overseas, barriers and protectionism against Chinese investment were strengthened as well.Fan Chunyong, standing deputy chief of the China Industrial Overseas Development and Planning Association, said the challenge would not affect the upward trend of the ODI."China's ODI will go up to 0 billion in 2013, and the Chinese accumulative overseas investment will reach 0 billion by then," said Fan.According to the ministry, by the end of 2009, 13,000 Chinese enterprises had invested in 177 nations and regions worldwide, and the largest volume of funds went to the Asia-Pacific region. Europe and Africa ranked second and third in absorbing Chinese investment.Figures also revealed that more Chinese enterprises were focused on developed nations and emerging markets. During the first half of the year, China's ODI to the United States and the European Union rocketed by 360 percent and 107.2 percent respectively year-on-year. And investment into ASEAN and Russia grew by 125.7 percent and 58.5 percent.Jinny Yan, economist from Standard Chartered Shanghai, predicted that the EU would continue to be a hotspot for China's outbound investment in the coming months thanks to the ongoing European debt woes.As for FDI, Shen predicted it would reach a record high of 0 billion this year as China's consumption capacity gradually picked up and the nation's efforts on creating an open and transparent investment environment paid off.Responding to recent complaints by foreign businesses on the "worsening" investment environment, he said it "highlights foreign businesses are attaching more importance to the Chinese market".A report by the European Chamber of Commerce released last Thursday said China had made progress on improving its investment environment, but still needed to do more, especially on market access and the regulatory environment.While global FDI slumped by almost 40 percent last year, China's FDI was down by a mere 2.6 percent, according to the UNCTAD. China remained the second largest recipient nation of FDI, following the US.During the first seven months, China's FDI increased by 20.7 percent to .35 billion, and FDI in July surged by 29 percent.Zhan Xiaoning, director of the investment and enterprise division under the UNCTAD, said China was taking the leading role in the FDI recovery worldwide, even though FDI growth was not a cause for optimism globally.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.