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JEJU, South Korea, May 29 (Xinhua) -- Leaders of China, Japan and South Korea on Saturday issued a document outlining a blueprint for cooperation within the coming 10 years.Chinese Premier Wen Jiabao, South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama, who are meeting in South Korea's southern resort island of Jeju for an annual trilateral summit, made joint pledges to further trilateral cooperation in such areas as economy, security, environmental protection and cultural exchange.The leaders of the three nations agreed that after making clear the detailed objectives and long-term goals within the next decade, all sides need to concentrate efforts on boosting trilateral cooperation to a new height, so as to further consolidate partnership, achieve more in mutually beneficial cooperation in all aspects and enhance friendship between the peoples of the three countries.Chinese Premier Wen Jiabao (R), South Korean President Lee Myung-bak (C) and Japanese Prime Minister Yukio Hatoyama shakes hands before the third trilateral summit in South Korea's southern resort island of Jeju on May 29, 2010. Leaders of China, Japan and South Korea met in the trilateral summit with the aim of mapping out future cooperation in East Asia.The three leaders agreed to set up a more cooperative mechanism to increase strategic mutual trust, which involves setting up a trilateral cooperation secretariat in South Korea in 2011 to jointly tackle natural disasters, discuss the possibility of a mechanism of trilateral defense dialogue to enhance security contacts, strengthen political dialogue and cooperation in police affairs, and boost government exchanges at local levels among the three nations.

BEIJING, June 1 (Xinhua) -- China's central bank will push forward yuan settlement in cross-border trade and investment in the western Xinjiang Uygur Autonomous Region, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), said Tuesday.Zhou said it was one of PBOC's important moves amid the central government's efforts to achieve leapfrog development and lasting stability in Xinjiang. However, he did not elaborate on the plan nor give a timetable.He said the PBOC would also support the development of small and medium-sized enterprises in Xinjiang.Chinese exporters and importers in five cities -- Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan -- are already allowed to settle cross-border trade deals in yuan.A PBOC report said last month that the country needs to expand yuan cross-border settlement when conditions allow.

BEIJING, April 6 (Xinhua) -- Indian Foreign Minister Somanahalli Mallaiah Krishna said here Tuesday that a strong and stable relationship between India and China has an impact on the entire world."As India and China manage their domestic priorities well, it has huge implications for global prosperity," Krishna made the remarks in his speech entitled "India and China in the 21st Century" at the China Institute of International Studies.The two countries "are raising the living standard of almost one-third of humanity," he said.In the past two decades, India and China have impacted significantly on global per-capita income, longevity and human development, said Krishna, there is much that can be gained through close cooperation.Facing challenges of urbanization, resource consumption, food and energy security, China and India can exchange best practices to benefit each other, the foreign minister said.He said "considerable scope" exists for joint projects in a huge infrastructure demand in India, covering sectors like power, roads, rail and telecommunication. On the Chinese side, the outsourcing of IT by state enterprises has only started recently. There is a potential waiting to be tapped, which would happen only by connecting Chinese users to Indian providers.As a reshaping of the global architecture is underway, evident in new groupings like the G20, BRIC, BASIC and the East Asia Summit, Krishna said as developing societies, India-China convergence is manifest on issues like climate change and global trade rules."We have to accept that there will be outstanding issues between the two countries even as our relationship forges ahead. The true test of our maturity is how well we handle our problems," said Krishna.A number of dialogues and forums already exist between India and China where both sides discuss bilateral, regional and global political issues, including boundary question, trade matters and water management."Regular meetings lead to better communication, more understanding and confidence," said Krishna, encouraging an "intensive and sustained engagement" between the two systems.As to media speculation that India and China have a "competitive" relationship, Krishna said it is up to the two countries to disprove such scenarios by "concrete examples of cooperation".As this year celebrates the 60th anniversary of China-India diplomatic ties, Krishna told a reception later Tuesday that his country would take the opportunity to renew cooperation, engagement and understanding between the two peoples.

BEIJING, May 6 (Xinhua) -- Malta President George Abela missed the spectacular opening ceremony of the World Expo in Shanghai because of a leg injury, but he felt something that he said he would remember forever during the special Chinese tour.In the morning of April 30, twelve hours before the opening ceremony of the World Expo, Abela's leg was hurt in an accident. The head of the Mediterranean state was rushed to the city's best Ruijin Hospital."I will not meet with President Hu Jintao on a wheelchair," said Malta President George Abela lying on a hospital bed in Shanghai, striving to stand up, but failed.Absent from the opening session held beside the Huangpu River that evening, Abela, who was supposed to be there, watched in his ward the live TV show of those magnificent dancing, singing and splendid fireworks."I'm not there, but I can feel as the Chinese do," Abela was quoted by a Chinese diplomat as saying.President Hu, upon his knowledge of the accident, immediately instructed senior officials of the Chinese Foreign Ministry to visit Abela in hospital.On May 1, Hu met with six foreign leaders who came to the Chinese economic hub for the first World Expo in a developing country. He repeatedly asked about Abela's situation during the short breaks.Finishing all the meetings, Hu rushed to Abela's ward, and the two presidents' hands held tight."I know that today you are very busy and your coming impressed me very much," Abela said, noting such a meeting indicated the friendship and mutual respect between China and Malta."I was sorry to hear you got hurt yesterday," Hu told Abela, asking his counterpart to be relieved and pledged the best medicare."You sent a letter of condolence to us after the earthquake in Yushu of Qinghai Province, and you came here for the Expo after such a long journey.Now I would like to express my sincere appreciation to you," Hu said.As the Malta delegation failed to find a charter plane to take home their president, Hu decided to send a special plane for the task."I will remember forever the friendship with Chinese, as well as President Hu and his wife," Abela told senior officials of the Chinese Foreign Ministry and the Shanghai government at the Hongqiao Airport before leaving.The plane took off at 8:55 a.m., May 3 and landed on 4 p.m. local time at the Malta International Airport, where Abela, accompanied by a Chinese medical group, was received by his colleagues and Chinese ambassador Zhang Keyuan."I, on behalf of all the Malta people, invite all the friendly Chinese people to visit my country," Abela, still on a hospital bed, told the medical group who were backing China.

BEIJING, March 31 -- The appointment of three new academic members to the central bank's monetary policy committee on Monday reflects the increasing inclusiveness of monetary policymaking, but may not have any apparent bearing on the timing of an interest rate hike, analysts said.The People's Bank of China (PBOC) said three Chinese economists - Xia Bin, Li Daokui and Zhou Qiren - will replace Fan Gang, the only academic member of the committee, which advises on major monetary issues."Adding two more academics to the monetary policy committee is a welcome change," said Wang Tao, head of China economic research at UBS Securities. "I hope this helps to increase healthy debate within the committee, and increase the independence of monetary policy.""The appointment of three academic members this time - instead of one - indicates the increasing importance of academic voices in monetary policymaking and the three, with different backgrounds, are expected to complement each other to add to the inclusiveness of the panel," said Sun Lijian, an economist with Fudan University. It would make the country's monetary decision-making more rational, he said.Going by their recent comments on inflation, with Li saying that China could precede the United States in raising the rates and Zhou urging a timely and firm exit from stimulus policies, it is speculated that their appointment may signal chances of an earlier rate hike.Zhou said in a February speech that it was high time that China exited from the stimulus measures. "Given the past experiences, the stimulus through expanding money supply and debt only has a short-term effect," he said in the speech.One of the side effects of the stimulus is rising inflation. "The price of the stimulus policies is mainly the adverse effect of the large-scale release of money on the overall market price situation," he said. "We have seen it on the market."Li said early this month once China's consumer price index (CPI), a major measure of inflation, rises 3 percent, the country is set to increase the rates. China's CPI rose by 2.7 percent year-on-year in February.He also said on Monday that China may suffer from exported inflation from developed economies as their continued relaxed monetary policy would lead to surging raw material prices and large-scale capital flowing into the emerging economies, including China.Meanwhile, China should keep itself alert against possible price rises due to weather changes, such as the recent severe drought in southwestern regions.Xia Bin said on Monday that three factors should be taken into account when deciding on whether to raise the interest rates. It should be considered if real negative deposit interest rates occurred. But if inflationary expectations are not strong, the hike would be inappropriate. Moreover, China should not move ahead of the US since it would bring in speculative capital.China's benchmark one-year deposit rate stands at 2.25 percent.Dong Xian'an, chief macroeconomic analyst of Industrial Securities, said economic fundamentals should be the paramount determinant in interest rate related policymaking and the appointment of a new monetary policymaking panel would not have any substantial bearing on the timing of the possible hike.The month-on-month CPI figure is a crucial factor and as it continues to rise, the hike may come in the second quarter of this year, he said.