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BALI, Indonesia, May 3 (Xinhua) -- Details of a sizeable foreign currency reserve pool among the Association of Southeast Asian Nations, China, Japan and South Korea (ASEAN+3) were finalized here on Sunday, two years after the initiative was first introduced to combat emergent financial problems.     Finance ministers of the ASEAN+3 nations reached the agreement on all main components of regional reserve pool, known as Chiang Mai Initiative Multilateralization (CMIM), and it will be implemented before the end of this year.     The agreement on the CMIM includes "the individual country's contribution, borrowing accessibility, and the surveillance mechanism," said a statement issued after the finance ministers' meeting.     The total size of the CMIM is 120 billion U.S. dollars with the contribution portion between ASEAN and the Plus Three countries at20 percent versus 80 percent.     China and Japan will each contribute 38.4 billion U.S. dollars to the pool, while South Korea will contribute 19.2 billion dollars.     Among China's portion, Hong Kong Special Administrative Region will contribute 4.2 billion U.S. dollars. "We welcome Hong Kong, China, to participate in the CMIM," said the statement.     The CMIM is set up to "address short-term liquidity difficulties in the region and to supplement the existing international financial arrangements," the statement said.     The ministers agreed to establish an independent regional surveillance unit to monitor and analyze regional economies and support CMIM decision-making. As a start, there would be an advisory panel of experts to work closely with the Asian Development Bank (ADB) and the ASEAN Secretariat.     In the statement, the ministers also endorsed the establishment of the Credit Guarantee and Investment Mechanism (CGIM) as a trust fund of the ADB with an initial capital of 500 million U.S. dollars. It could be increased once the demand is fully met.     "It's a welcoming step in coping with the crisis, and an important step to the financial architecture of the region and it will infuse confidence to the market," said ADB Managing Director General Rajat Nag after the meeting, referring to the finalization of the CMIM.     Asked whether the CMIM is meant to replace the role International Monetary Fund plays in the region, he said the mechanism is only "good complement" to what IMF does.     "Gladly, we don't have the situation like in the U.S. or Europe but it's better to be prepared. Once there is a need, we are able to present our concerns and there is facility there," said Philippine Finance Secretary Margarito B. Teves." It is a helpful matter for the market."     "It's done, there would be no blocking stone toward the final implementation of reserve pool," said Thai finance minister Korn Chatikavanij.

BEIJING, May 17 (Xinhua) -- Chinese military authorities pledged Sunday to tighten supervision on senior and middle ranking officers, through strict punishment in cases of breach of duty and regular inspection of their work.     The military will adopt a strict system to investigate and punish senior officers for breaching duty or making mistakes, said a circular issued by the Central Military Commission (CMC) on Sunday.     The document, approved by CMC Chairman Hu Jintao, said it will also introduce a system of accountability by regular inspection on the work of officers at army corps level.     Military units higher than regiment level of the People's Liberation Army must review the work of their commanding officers at least once a year, it added.     Commanding officers from regiment to army corps levels are usually regarded as middle and senior ranking PLA officers.     It will tighten inspection on senior officers to see whether they strictly follow the military disciplines and show loyalty to the Communist Party of China.     The circular called on the officers to keep a communist nature. "In the face of a complicated ideological situation, senior military officers must stick to their faith and keep a firm political stance," it said.     They should devote themselves to building up the country's military capacity to win local wars in the information age, it said.     The document said that the supervision and inspection will focus on any examples of extravagance and waste by military officers.

BEIJING, June 22 (Xinhua) -- China's top political advisor called Monday for more resources and support for alternative fuel vehicles to boost the car industry and spur the economy.     Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, a political advisory body, made the call during a visit to Beijing-based FOTON, Asia's largest commercial vehicle manufacturer. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, talks with a worker about new energy automobiles, in Beijing, China, June 22, 2009. Jia Qinglin did researches on new energy automobiles in Beijing on Monday. "Alternative fuel vehicles represent the future of the car industry," he said. Such vehicles would improve the environment, reduce the impact of the financial crisis and trigger new technologies, he said during a research tour.     Jia, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, urged using innovation as a priority to develop the industry, and improve research and development abilities.     He also called for more "backbone companies" with their own property rights, brands and market competitiveness.     Automakers "need to improve production abilities and services. They also need to develop more products and functions to meet market demand," he said.

BEIJING, June 4 (Xinhua) -- A reception was held here on Thursday evening to celebrate the 35th anniversary of the establishment of diplomatic ties between China and Malaysia.     Chinese Vice Premier Li Keqiang and Malaysian Prime Minister Najib Tun Razak addressed the reception, pledging to advance bilateral relationship to a new level.     Li said the growth of China-Malaysia ties in the past 35 years had brought tangible benefits to the two peoples, and helped promote regional peace and development.     The current sound bilateral relations profited from the traditional friendship, the broad common interests and the great importance attached by both leaders to promoting the ties, Li noted. Chinese Vice Premier Li Keqiang(R) cuts a cake together with his counterpart Najib Tun Razak during the evening reception to mark the 35th anniversary of the establishment of diplomatic relationship between China and Malaysia in Beijing, capital of China, on June 4, 2009.Under the new situation, the potentials for China-Malaysia cooperation were great, Li said, noting that China would work with Malaysia to jointly cope with the international financial crisis.     The two governments signed a joint action plan on China-Malaysia strategic cooperation on Wednesday, which outlined the political, economic, cultural, and education cooperation in the coming years.     Li hoped the two nations would fulfill the action plan and expand the bilateral strategic cooperation.     Echoing Li, Najib said his government was ready to increase cooperation with China in an all-around way, in a bid to lift bilateral ties into a new historical level.     Najib said his country was proud of becoming the first country among the members of the Association of Southeast Asian Nations (ASEAN) to forge diplomatic relations with China 35 years ago.     Najib's late father, then Prime Minister Tun Abdul Razak, signed the communique on diplomatic ties with China at that time.     At a press conference here Thursday evening, Najib said that he is very delighted with the outcome of his China visit, stressing that the cornerstone of bilateral relations and the emphasis of further cooperation will still be the economic and business ties.     "My visit is not only to follow the footsteps, but more to run faster and further," said Najib, adding that he believed there is so much potential to raise the bilateral relations to the next phase.     "We are excited about the prospect between Malaysia and China, " he said.     Najib arrived here on Tuesday for a four-day official visit. China is the first country he visited outside the ASEAN since he took office in April.

BEIJING, May 14 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday met with President of the Socialist International(SI) George Papandreou on promoting the world's sustainable development.     Papandreou was leading a 15-member delegation to Beijing for a sustainable growth seminar co-sponsored by the Communist Party of China(CPC) and the SI.     Li, member of the Standing Committee of the Political Bureau of the CPC Central Committee, reviewed the increasing exchanges since the CPC and the SI started their exchanges in 1982.     "Jointly holding a seminar on sustainable growth signifies a positive step for both sides to deepen strategic dialogue," Li said.     The seminar, scheduled for Friday, will address how to work together to deal with climate change and other environmental challenges.     Li briefed Papandreou on the country's efforts to tackle the international financial crisis and seek sustainable development.     Li said the CPC valued the ties with the SI and its member parties and called for increased cooperation and deeper dialogue.     Papandreou said the Socialist International would like to seek more dialogue and cooperation with the CPC to promote sustainable development worldwide. Chinese Vice Premier Li Keqiang (R, front) meets with a 15-member delegation headed by President of the Socialist International (SI) George Papandreou who are here in Beijing for a sustainable growth seminar co-sponsored by the Communist Party of China (CPC) and the SI, in Beijing, China, May 14, 2009