China for close financial ties with

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Subject: China for close financial ties with SE Asia

CHINA FOR CLOSE FINANCIAL TIES WITH SE ASIA
The Hindu (27/08/97)
By V. Jayanth
 
The Chinese premier, Mr, Li Peng, today called for close cooperation
between his country and Southeast Asia in the financial sector, to ward
off speculation and financial risks.
 
Addressing a meeting of businessmen organized by the Singapore Trade
Development Board, Mr. Li said: "We are soberly aware that compared with
the developed countries, the economic strength of countries and regions
like ours is still relatively weak and the financial system not adequate,
thus bearing financial risks which make it susceptible to the impact of
the turbulence of the international financial market". 
 
He called for intensifying cooperation and coordination in the field of
finance and stepped  up exchanges of information. "We should seriously
draw lessons from previous financial crisis in the world, keep a high
degree of vigilance, strengthen the financial regulation, improve the
financial system so as to foster on and reduce financial risks to the
minimum and insure a sound growth of the economy," he said.