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Confucius said: "Cold winter reveals the strength of the pine and cypress." The Confucius Institute has been able to grow despite the "cold winter" because it represents the unstoppable historical trend towards greater mutual learning and exchange between different civilisations, the driving force behind human progress, peace and prosperity. The Institute is initiated by China, but it belongs to the world. I am confident that it will serve as a bridge of friendship and better understanding. Looking ahead, the Institute can make new and greater contribution to human progress and to the building of a community with a shared future for mankind.

Conflicting interests

Combined sales in the first 11 months rose 10.3 percent to 33.15 trillion yuan (about trillion), flat from the January-October pace, the National Bureau of Statistics said on its website.

Coming at a crucial moment when major parties are working hard to achieve reconciliation and peace on the peninsula, Fan said the dismantling of the Punggye-ri underground nuclear test site demonstrates Pyongyang's commitment to denuclearization, consolidating the detente needed for a political settlement of the issue. Fan said it deserves the support of the international community.

Commenting on the existing international financial institutions - the World Bank and the Asian Development Bank, Jin reassured AIIB is complementary instead of competition.