SECONDLY, DEEPENING OF FINANCIAL COOPERATION

Efforts should also be made to deepen financial cooperation, he said, noting that the two sides should make Chiang Mai Initiative Multilateralization more effective and improve its operation procedures.

The ASEAN Plus Three countries "need to step up exchanges and coordination on macro-economic policies, and strengthen and improve the regional economic monitoring mechanism," Wen said.

"We should continue to build the Asian Bond Market, make good use of the Credit Guarantee Investment Facility and facilitate the issuance of local currency-denominated bonds," Wen said.

Meanwhile, those countries should probe ways to encourage cross-border bond transaction and settlement in the region, and intensify the capacity-building for the development of the bond market, he said.

THIRDLY, PROMOTION OF COOPERATION IN OTHER FIELDS

The premier also called for promoting cooperation in other fields, including food security, agriculture, infrastructure construction, as well as education.

On food security, Wen said China stands ready to join efforts with all parties to build the ASEAN Plus Three Emergency Rice Reserve.

"China will donate 1 million U.S. dollars to the reserve on top of the 300,000 tons of rice it pledged last year," he added.

Beijing will continue to host the ASEAN Plus Three Roundtable on Food Security Cooperation Strategy and explore with other nations ways for cooperation on sustainable agricultural production in the region, he said.

In a bid to promote regional economic development, China would like to join ASEAN, Japan, South Korea to support the Master Plan on ASEAN Connectivity and advance the construction of roads, railways, shipping routes, ports and other facilities in the region, Wen said.

On education cooperation, the Chinese government supports the establishment of the ASEAN Plus Three education ministers' meeting mechanism, the premier said.