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The Shangri-La Dialogue, organized by the London-based think tank International Institute for Strategic Studies, has been one of the key events for defense professionals in the region to exchange views on security issues.

Noting insufficient flood control facilities in some places and weak links in emergency response, Wang said authorities should guarantee that disaster control and relief measures are implemented, as well as strengthen forecasts and early warning.

The two sides should cooperate to promote the construction of an economic corridor among China, Bangladesh, Myanmar and India, to bring along regional development, according to Xi.

The Chinese vice president raised a three-point proposal to develop the two parties' relations. He called on the two parties to maintain high-level communication and deepen mutual political trust, to expand cadre exchanges and intensify communication on governance experience and to work together to hold multilateral activities to boost Chinese-African relations.

For instance, the Ministry of Culture and two public institutions embezzled 104 million yuan (17 mln U.S. dollars) and spent 30 percent of it on gifts and giving out allowances. The eight state-owned banks, including the ICBC, were found to have lent 375 billion yuan to companies barred from gaining such loans.