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NEW YORK, April 26 (Xinhua) -- Jean-Claude Trichet, the president of the European Central Bank, called in New York on Monday for strengthening global governance amid the economic recovery process.The crisis showed that gaps in the system of global governance, in terms of both efficiency and legitimacy, have to be filled, Trichet said in a keynote speech at the Council on Foreign Relations in New York.Global governance in the financial sphere has fared during the crisis, he pointed out. "One dimension of international cooperation that I consider to have worked particularly well during the financial crisis has been that among central banks, both bilaterally and channeled through the various Basel-based committees.""But as much as some aspects of global governance appear to have passed the severe test of the global crisis, we should remember the significant shortcomings that may have contributed to creating the conditions for the crisis to happen in the first place," he added."One is the lack of coordination in financial regulation that was pervasive before the crisis and which encouraged financial institutions to engage in a large degree of regulatory arbitrage. This was the unavoidable result of the fact that while financial players were becoming increasingly global, and despite the remarkable efforts of the Basel Committee in respect of the banking sector, financial regulation remained largely national, with only relatively weak coordination at the international level, " said the president.

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 20 (Xinhua)-- China on Thursday says it has noted the investigation results released by the Republic of Korea (ROK) over the sinking of a ROK warship, calling on all parties to exercise calmness and restraint over relevant issues of the sinking.Foreign Ministry spokesman Ma Zhaoxu made the remarks at a regular press briefing when responding to questions.He said China upheld that all parties should exercise calmness and restraint, properly deal with relevant issues, and avoid escalation of the situation.After the sinking of the ship, China expressed condolences and sympathy to the ROK on many occasions for their casualties, which fully embodied China's understanding of the grief of the ROK government and people.Ma said China has always viewed and dealt with international and regional affairs in a fair and objective manner.China is always devoted to safeguarding regional peace and stability, and promoting the progress of the six-party talks on the denuclearization of the Korean Peninsula, he said, adding China was opposed to any activities which could run counter with the commitment.The 1,200-ton "Cheonan," with 104 crew members onboard, went down on March 26 near the South Korean island of Baekryeongdo off the west coast after an unexplained explosion, killing 46 crew members.

BEIJING, May 21 (Xinhua) -- The growth of China's electronic products industrial value-added output topped 18.2 percent in April year on year, the Ministry of Industry and Information Technology (MIIT) said Friday.The rate was 1.3 percentage points lower compared with March, but the ministry did not give detailed figures in the statement posted on its website.The industrial value-added output of the sector rose 21.7 percent in the first four months year on year, the statement said.China's combined exports of electronic goods rose 24.4 percent in April year on year to 267.8 billion yuan (39.2 billion U.S. dollars).Exports of integrated circuits and color TV sets grew 64.4 percent and 54.6 percent, respectively, in the period.