ADB to Strengthen Cooperation With China

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Last updated at: (Beijing Time) Thursday, March 28, 2002

ADB to Strengthen Cooperation With China

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The Asian Development Bank (ADB) enjoys good cooperation with China and hopes that such cooperation will be further strengthened, ADB President Tadao Chino said Tuesday in Manila.

In a meeting with visiting Chinese Finance Minister Xiang Huaicheng at the ADB headquarters, Chino said the ADB and the Chinese government have been maintaining a sound cooperative relationship, which has experienced new advances in recent years.

ADB annual meeting expected in Shanghai

He expressed the hope that the 35th annual meeting of the ADB board of governors to be held in Shanghai, China, in May will further boost the existing good cooperation between the two sides.

The ADB attaches great importance to the upcoming meeting in Shanghai, during which many issues will be discussed, he said.

Ten symposiums will also be held on the sideline of the meeting, and one of the most important deals with the opportunities and challenges facing China after its entry to the World Trade Organization, he said, adding that he will address the symposium.

The ADB president appreciated the elaborate preparations made by the Chinese government and Xiang himself for the meeting, hoping it would be the most successful in history.

China cherishes relations with ADB

Xiang, who arrived here on Monday for a two-day visit, said China is satisfied with its good cooperative relationship with the ADB over the past 16 years, and hoped that it will be further strengthened on the basis of mutual benefits in the future.

Xiang, who is also the current chairman of the ADB board of governors, thanked the ADB for its contributions to China's economic development, saying all the provinces of China have benefited, socially and economically, from the assistance provided by the ADB.

He said the Chinese central government and the Shanghai municipal government have given top priority to the ADB board meeting in Shanghai, which he said would be conducive to the peace and development in the region.

Xiang invited Chino to Shanghai next month to inspect on-the-spot the meticulous preparatory work being made by China for the meeting to make it a great success.

Xiang and Chino also exchanged views on other issues of common concern during the meeting, where Chinese Vice Finance Minister Jin Liqun and Chinese Ambassador to the Philippines Wang Chungui were present.

Backgrounder: Asian Development Bank (ADB)

ADB is a multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific. Established in 1966, it is now owned by 59 members, mostly from the region.

Its headquarters is in Manila. It has 21 other offices around the world.

It has a staff about 2,000 employees from nearly 50 countries. (More)

The Thirty-Fifth Annual Meeting of the Board of Governors of the Asian Development Bank will be held in Shanghai, People's Republic of China from Friday, 10 May to Sunday, 12 May 2002. (More)

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