China Delighted to See Economic Recovery in East Asia, Jiang

Jiang Zemin Meets Malaysian PM

President Jiang Zemin said November 15 in Bandar Seri Begawan that China is pleased to see the strong economic rebound in East Asia after a prolonged financial crisis.

In his meeting with Malaysian Prime Minister Mohamad Mahathir, Jiang said all East Asian countries, including Malaysia, have overcome the financial crisis and showed signs of recovery.

He briefed Mahathir on China's current economic situation and the future socioeconomic development program.

Facts have proven that the measure adopted by China to keep its currency stable amidst the financial crisis is "completely correct," he said.

Now China has decided to develop its vast west region and overseas investment is welcome there, he said.

Mahathir said he was delighted to exchange views with Jiang on the common problems that both countries are facing. The economies in East Asia have indeed recovered and the Malaysian economy has fully recovered,he said, adding that the region would see better economic growth in the future.

He expressed the belief that China's west region would see rapid development thanks to the country's development strategy and his country hopes to invest more in the region.

On the China-Malaysia relations, Jiang said bilateral ties are "good" and the two countries' cooperation in all fields has "ushered in a new period."

He also expressed appreciation to Mahathir for his contribution to the growth of the China-Malaysia ties.

Mahathir said that there is no problem in the relationship between Malaysia and China. Bilateral ties have turned closer and economic cooperation further enhanced, he said.

Malaysia-China ties boast broad prospects for the two countries share similar or identical views on many major issues, he told Jiang.

Both Jiang and Mahathir are here attending the 8th Asia-Pacific Economic Cooperation informal leadership meeting.