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ASEAN Summit: China proposes measures to maintain finance in Asia

Chinese Premier Li Keqiang has proposed a stronger multilateral cooperation to ensure stability in the financial sector in Asia.
ASEAN Summit: China proposes measures to maintain finance in Asia ảnh 1Chinese Premier Li Keqiang (Photo: Straitstimes)

Beijing (VNA) – Chinese Premier Li Keqiang has proposed a strongermultilateral cooperation to ensure stability in the financial sector in Asia.

At the 21st ASEAN 3 Summit between the 10 ASEAN member states and theirpartners – China, Japan and the Republic of Korea - in Singapore on November 15,Li called on parties involved to improve upon the Chiang Mai initiative – amulti-country currency swap agreement set up after the Asian financial crisisin 1997.

He said regional countries need to support efforts of the ASEAN 3Macro-economic Research Office (AMRO), which is responsible for researching andoverseeing the Chiang Mai initiative, to improve its monitoring capacities of theeconomy.

At the event, the Chinese leader suggested accelerating negotiations on theRegional Comprehensive Economic Partnership (RCEP) and a trilateral free tradeagreement (FTA) between China, Japan and the RoK.

He also proposed a series of mechanisms to promote regional economicintegration and strengthen cooperation in culture, innovation and developmentwithin the framework of ASEAN 3 countries. - VNA
VNA

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