China raises four-point proposal on tackling financial crisis with Malaysia

BEIJING, June 3 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday raised a four-point proposal to boost collaboration with Malaysia so as to jointly tackle the global financial crisis.

Visiting Malaysian Prime Minister Najib Tun Razak (front, L) receives  a special gift, a photo of his late father and China's late Premier  Zhou Enlai when the two established diplomatic ties between China  and Malaysia in 1974, from Chinese Premier Wen Jiabao (front, R),  in Beijing, capital of China, June 3, 2009. (Xinhua/Li Xueren)

China and Malaysia should insist on the Five Principles of Peaceful Co-existence, take each other's concern into consideration and achieve common development, Wen said to visiting Malaysian Prime Minister Najib Tun Razak during their meeting at the Great Hall of the People.

Wen raised a four-point proposal for further cooperation between the two countries, which included promoting trade diversification, enhancing mutual investment, deepening financial cooperation and safeguarding financial stability, and strengthening coordination on regional affairs.

Malaysia has become China's largest trade partner among members of the Association of Southeast Asian Nations (ASEAN). Trade between the two countries reached 39.06 billion U.S. dollars in 2008, up 10.3 percent year on year.

This year marks the 35th anniversary of the establishment of diplomatic relations between China and Malaysia. Wen said that China is ready to work with Malaysia to take this opportunity to promote their relations.