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Zhang stressed that fiscal and financial cooperation should be a key area to be strengthened in the two sides' practical cooperation, and that China and Russia should launch and broaden cooperation on currency swaps as well as local currency settlement, investment and financing.

The 2008 global credit crisis which first broke out in the U.S. proved that credit rating is crucial to a sound global economic development, and indicated that flawed credit ratings are the perpetrator of the crunch, the organizers said.

BEIJING, June 6 (Xinhua) -- China and Japan held their fifth finance dialogue in Beijing on Saturday after about two years of delay due to sour relations.

Xi called for closer China-Belgium cooperation on finance and interconnectivity, hoping that Belgium will back Chinese enterprises' participation in the ambitious Investment Plan for Europe as well as the construction of main corridors in Europe.

In the article, titled "China-A Staunch Proponent of Peace and Stability in the South China Sea", Liu said in recent weeks, some outsiders, in disregard of historical evidence, principles of international law and facts and in an attempt to ratchet up tensions in the South China Sea, have been engaging in large-scale hyping-up of the South China Sea issue, and singing in chorus with certain claimants. China is seriously concerned about this.