President Hu Jintao made a three-point proposal in Manila Wednesday on strengthening cooperation between China and the Asian Development Bank (ADB).  

Hu met with ADB President Haruhiko Kuroda on the sidelines of his state visit to the Philippines. Hu said the ADB's loans and technical assistance have greatly supported China's economic growth and infrastructure construction.

"China will firmly continue with its reform and opening-up policy," Hu said. "China pays great attention to its cooperation with international financial organizations."

He proposed that China and the ADB enhance cooperation in the following three areas:

l         to expand the scope of credit loans from infrastructure construction currently to China's agriculture, public health, culture, education and environmental protection

l         to enhance cooperation in regional and sub-regional areas including the Greater Mekong sub-region, and the China, Japan, the Republic of Korea plus ASEAN nations

l         to increase cooperation in poverty reduction and development program in the developing nations, which has been the common task for all developing countries

Kuroda described the ADB's cooperation with China as great. He thanked China for its donation of US$30 million for the Asian Development Fund, and another US$20 million as the fund for China's poverty reduction and regional development within the framework of the ADB.

He said he agreed with Hu on the three-point proposal, adding the ADB will work with China to make the cooperation more productive.

(Xinhua News Agency April 28, 2005)