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HANOI, Oct. 29 (Xinhua) -- Chinese Premier Wen Jiabao on Friday made proposals for boosting cooperation, especially in economy and trade, at a series of ongoing summits between the Association of Southeast Asian Nations (ASEAN) and its partners including China, Japan and South Korea.He attended the China-ASEAN summit, the summit of ASEAN Plus Three, namely China, Japan and South Korea, and a meeting of the leaders of the three countries.Wen also held bilateral talks with Singaporean Prime Minister Lee Hsien Loong and Indian Prime Minister Manmohan Singh on the sidelines.CHINA-ASEAN COOPERATIONWen and other leaders at the 13th summit between China and the ASEAN voiced their commitment to further strengthening their strategic partnership and comprehensive cooperation.Wen made a six-point proposal to further enhance the strategic partnership between China and Southeast Asian nations, saying the cooperation has been "most pragmatic, most extensive and most fruitful.""We should continue to pursue peaceful development through friendly cooperation" and must work together to ensure that "the China-ASEAN cooperation stay at the forefront of East Asian cooperation," Wen said.Topping the list of priorities is the further promotion of economic and trade relations between the two sides, Wen said.Wen said China will further expand imports from and facilitate trade with ASEAN members in the coming years in the hope of bringing the annual bilateral trade value to 500 billion U.S. dollars by 2015.ASEAN PLUS THREE SUMMITAt the ASEAN Plus Three summit involving ASEAN and China, Japan and South Korea, Wen proposed that they speed up work on establishing the East Asia Free Trade Agreement (FTA) and boost cooperation in finance and other areas."Stronger ASEAN Plus Three cooperation is essential to the revitalization of East Asia," Wen said at the summit.On the East Asia FTA, Wen said China, as the lead sherpa of the ASEAN Plus Three business cooperation, has put forward the roadmap for ASEAN Plus Three trade facilitation for the next five years."China will consult with other parties and propose specific measures to further advance trade and investment liberalization and facilitation within the region," he said.With China, Japan and South Korea each having their respective FTAs with the ASEAN in place, the three countries should move faster towards the establishment of a free trade agreement, Wen said.China, Japan and South Korea have decided to sign a tripartite investment agreement as soon as possible and complete the joint FTA study involving the government, industry, and academia by 2012, he said.Wen also called for efforts to deepen financial cooperation, saying that the two sides should make the Chiang Mai Initiative Multilateralization more effective and improve its operation procedures.Meanwhile, those countries should probe ways to encourage cross-border bond transaction and settlement in the region, and intensify the capacity-building for the development of the bond market, he said.The premier also called for promoting cooperation in food security, agriculture, infrastructure construction and education.On food security, Wen said China stands ready to join efforts with all other parties to build the ASEAN Plus Three Emergency Rice Reserve. He pledged a further 1 million dollars in donation to the reserve.Wen also urged the strengthening of communication and coordination among the ASEAN Plus Three on major international issues, and pushed for positive outcomes at major international conferences like the G20 summit.

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.

ROME, Oct. 7 (Xinhua) -- China and Italy enjoy a good foundation for cooperation and China would like to expand that to other areas such as trade and investment, environment and culture, Chinese Premier Wen Jiabao said here Thursday. During a meeting with Italian Prime Minister Silvio Berlusconi on the second day of his two-day visit, Wen applauded the fruitful bilateral cooperation the two countries have enjoyed since establishing diplomatic ties 40 years ago.Wen said China expects to conduct high-level exchanges with Italy and at all levels, promote political mutual trust and expand cooperation.The premier proposed that the two countries should make efforts to promote trade, enhance intellectual property rights protection, work hard to settle trade disputes, and oppose protectionism. Chinese Premier Wen Jiabao (L) and his Italian counterpart Silvio Berlusconi attend a symposium with Chinese and Italian entrepreneurs in Rome, Italy, Oct. 7, 2010.China and Italy could work to build for China a set of complete mechanisms of environmental risk assessment and emergency response and set up an environment technology promotion center, Wen said.He said the two nations should advance their cooperation in technological innovations based on mutual benefit.That, Wen said, would include bringing high-tech industries to the joint technology parks, building technology transfer centers in China, and exploring the possibility of establishing a industrial design center.The premier also suggested the two sides coordinate for a better use of Italy's credit loans so as to bring more Italian investment China's way.

FUZHOU, Sept. 2 (Xinhua) -- Tropical storm Lionrock, the eighth of this year, made landfall on east China's Fujian Province early Thursday morning, local meteorologists said.The storm landed at Gulei Town of Zhangpu County at around 6:50 a.m. with a speed of 82.8 km per hour near its center.Under the impact of Lionrock, torrential rain was seen along the coast of Zhangzhou City, and the rain was the heaviest in Dongshan and Zhangpu counties.No casualties have been reported.Local meteorologists have warned residents of mudflows and landslides that might be triggered by the tropical storm.The meteorologists forecast that rainfalls would be up to 100 to 200 mm in Zhangzhou, Quanzhou, Xiamen and Putian cities of Fujian from Thursday to Friday.By 7:00 p.m. Wednesday, 162,200 people in the province had been evacuated to safe places, and 50,703 fishing ships had been back to harbors.

BEIJING, Oct. 28 (Xinhua) -- The Chinese government on Thursday issued the full text of Premier Wen Jiabao's explanation on a proposal that will play a crucial role in shaping the country's development over the next five years.The Communist Party of China (CPC) Central Committee's Proposal on Formulating the Twelfth Five-year Program (2011-2015) on National Economic and Social Development was adopted at the Fifth Plenum of the 17th CPC Central Committee that ended Oct. 18.Wen's explanation focused on five parts, including China's social and economic development over the past five years, the guiding principle and goals for development in next five years, major tasks in economic development, major tasks in improving social undertakings and people's livelihoods, and major tasks in deepening reform and opening-up.Wen made the explanation on Oct. 15 when the CPC Central Committee session began.The proposal stipulated scientific development as the theme of the 12th Five-year Program, said Wen, noting this is also the first time for a five-year program to include scientific development as its theme.The Scientific Outlook on Development shall be implemented in all sectors of reform and opening-up and the modernization drive, he said.According to Wen, the State Council will make the draft of the 12th Five-year Program based on the proposal. The draft will be submitted to the National People's Congress session next March for deliberation and approval.