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Financial Crisis in ASEM Spotlight: Chinese FM
    2008-10-16 14:44:18     Xinhua
China has made the global financial crisis its first priority among other issues of the upcoming summit of the Asia-Europe Meeting (ASEM), Foreign Minister Yang Jiechi said on Thursday.

He told Xinhua in a written interview that China, as the host country of ASEM, adjusted the topics for discussion timely according to the current international situation and set the financial crisis at the top of the agenda.

At the second London ASEM in 1998, the participants of the meeting decided to found the Asia-Europe trust fund, which served to help Asian countries to overcome the Asian financial crisis.

"This is a successful example of Asia and European cooperation in the financial field," Yang said.

"Compared to a decade before, Asian and European countries have stronger economic strength and more experience in coping with the crisis. It is more important that we have great consensus on tiding over the difficulties."

Facing the Asian financial crisis a decade before, China had committed to prevent its currency from depreciation, while this time the government would continue to maintain the stability of the macro-economy and the financial and capital market with a positive and responsible attitude, he said.

"I believe the Asian and European countries will conquer the crisis and make joint efforts to keep the stability of the international financial markets and promote the healthy development of the global economy."

The 45-member ASEM, established in 1996, is a high-level forum between governments of Asia and Europe. It aims at creating better conditions for cooperation between the two continents through strengthening dialogue and mutual understanding.
 
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