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TASHKENT, May 3 (Xinhua) -- Regional financial cooperation in East Asia has made active progress over the past year, Chinese Finance Minister Xie Xuren said after meeting with his counterparts from countries in the region.In particular, achievements were made in establishing the regional multilateral financial assistance mechanism and in promoting an Asian bond market, Xie told Xinhua on Sunday after attending the finance ministers' meeting of the Association of Southeast Asian Nations, plus China, Japan and South Korea (ASEAN+3) here.Xie said all parties concerned reached further consensus on basic parameters of a regional economic surveillance unit at the meeting.Uzbek President Islam Karimov(L) shakes hands with Chinese Finance Minister Xie Xuren in Tashkent, capital of Uzbekstan, May 3, 2010. The unit is responsible for monitoring the countries' economic and financial situations and providing advices for the regional foreign currency reserve pool, known as Chiang Mai Initiative Multilateralization (CMIM) that formally came into effect on March 24, 2010.The ASEAN+3 meeting also announced the setting up of a regional credit guarantee and investment fund with an initial grant of 700 million U.S. dollars, in an effort to promote the issuance of bond in domestic currencies within the region, Xie said.The finance ministers also agreed to create a working group to discuss future strategic fields for regional financial cooperation.

ULAN BATOR, June 1 (Xinhua) -- Visiting Chinese Premier Wen Jiabao and his Mongolian counterpart Sukhbaataryn Batbold agreed Tuesday to deepen bilateral cooperation in various areas including energy, trade and environmental protection.China and Mongolia should strengthen exchanges and cooperation and advance the partnership of good-neighborliness and mutual trust between the two countries, Wen said in talks with Batbold in Ulan Bator, Mongolia's capital.China is ready to maintain exchanges of high-level visits with Mongolia, said the Chinese premier, who arrived earlier in the day for a two-day official visit.He said the two nations should strengthen mutual political trust and continue to extend firm support to each other on major issues concerning their respective core interests.Chinese Premier Wen Jiabao (L) shakes hands with his Mongolian counterpart Sukhbaataryn Batbold in Ulan Bator, Mongolia, June 1, 2010. Wen also said the two sides should adopt practical measures to deepen their trade and economic cooperation and make efforts to promote cooperation in mineral resources development, infrastructure construction and finance.China is also willing to boost cooperation with Mongolia in energy, environmental protection and transportation, he added.During the talks, the Chinese premier pledged continued support and assistance for Mongolia's economic and social development.He suggested that the two sides launch a feasibility study at an early date on a China-Mongolia free trade area (FTA).As an effort to promote cultural exchanges, Wen said China will offer 2,000 government scholarships to Mongolian students in the next five years.Batbold said Mongolia is ready to increase cooperation with China in such areas as finance and environmental protection.Expressing support for a FTA, he said Chinese enterprises are welcome to expand investments in Mongolia and participate in the country's infrastructure construction and the development of mineral and energy resources.Batbold said trade and economic cooperation with China, Mongolia's largest trading partner and biggest source of investment, has been fruitful in recent years.Mongolia highly values its relations with China and will adhere to the one-China policy, said the Mongolian leader.He also said Mongolia will steadfastly support the Chinese government's position on the issues of Taiwan and Tibet.The two sides also pledged to work together to safeguard regional peace and stability.Mongolia is the third leg of Wen's four-nation Asian tour, which has already taken him to South Korea and Japan. He will also visit Myanmar.

UNITED NATIONS, April 21 (Xinhua) -- China's national flag on Wednesday was flying at half-mast at its permanent mission to the United Nations to mourn Yushu earthquake victims.In a solemn ceremony at the mission's residence in New York, the entire mission staff and some staff members of Xinhua News Agency observed a minute of silence to mourn the victims of the 7. 1-magnitude earthquake in northwest China's Qinghai Province.Chinese Ambassador Li Baodong told reporters that after the earthquake, the international community has extended sympathies and condolences to the Chinese government and people, and expressed support for and spoken highly of the government's swift and effective earthquake relief efforts.In their letters to Chinese President Hu Jintao, UN Secretary- General Ban Ki-moon and UN General Assembly President Ali Abdussalam Treki highly commended the Chinese government for its timely and effective measures in the earthquake relief process, Li said.The UN leaders also expressed deep admiration for Hu and Premier Wen Jiabao's decision to shorten overseas itinerary or postpone planned visits to join the people in the quake zone, Li said.The representatives of many other countries' missions to the UN, as well as the heads of some international organizations, also expressed their sympathies and support for China, he noted.The Chinese staff working at the United Nations also made sympathy calls and offered donations to support disaster relief effort, the Chinese ambassador added.

BEIJING, March 29 (Xinhua) -- Chinese President Hu Jintao on Monday extended condolences over the two deadly metro blasts in Moscow.In a telegram to his Russian counterpart, Dmitry Medvedev, Hu stressed that China strongly condemned the terrorist attacks, and supported Russia's efforts in combating terrorism and safeguarding national security and social stability.On Monday morning, 37 people were killed and 102 others injured in two explosions that rocked central Moscow's metro stations.It has been confirmed that the rush-hour blasts were set off by two female suicide bombers, who probably were linked to terrorist groups in the North Caucasus.

BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.