By Gu Jianjun, post doctorate with the Central Compilation and Translation Bureau

Chinese Premier Li Keqiang paid an official visit to Mongolia from July 13 to 14, which was the first visit by a Chinese premier in six years and the first by a foreign leader since the recent parliamentary elections and the formation of a new Mongolian government. During his trip, Premier Li held talks with new Mongolian Prime Minister Jargaltulga Erdenebat.

The visit is believed to be "at the right time" to better develop China-Mongolia relations, improve mutual trust and cooperation and deepen the strategic partnership between the two countries.

At present, China-Mongolia relations have been developing well with frequent exchanges of high-level officials and closer economic cooperation and people-to-people exchanges. During Chinese President Xi Jinping's state visit to Mongolia in 2014, both nations upgraded their ties to a comprehensive strategic partnership. China has been Mongolia's biggest trade partner and largest source of foreign investment for the last ten consecutive years.

The number of people visiting each other's country has reached over 1.3 million every year.

Besides, the two countries have maintained good communication and cooperation in international and regional matters.

On June 23, 2016, the heads of state of China, Mongolia and Russia witnessed the signing of the construction plan for the China, Mongolia, Russia economic corridor at the Shanghai Cooperation Organization (SCO) Tashkent Summit Meeting.

Mongolia has just come out of a new general election with a newly formed government whose main task is to develop the economy. China is Mongolia's biggest trade and investment partner.

In 2014, the bilateral trade volumes was US$ 7.3 billion dollars with a 22.7 percent increase than the previous year, among which China's export volumes was US$ 2.2 billion, falling 9.5 percent from the previous one, and the import volume was  more than US$ 5 billion, increasing 45 percent.

In 2014, China's investment in Mongolia reached US$ 503 million and China's direct investment totaled US$ 3.76 billion by the end of the year. China's investment accounts for nearly 40 percent of the overall foreign investment in Mongolia. And the registered Chinese fund companies take up almost half of all the foreign fund companies in Mongolia.

In particular, the Mongolian development strategy called "Grassland Road" matches with China's Belt and Road Initiative.

In history, Mongolia was a critical passage on the Thousand Mile Tea Route and the grassland Silk Road.

Advancing the alignment of the "Grassland Road" and the Belt and Road is crucial for Mongolia's development and the construction of the China, Mongolia, Russia economic corridor.

During the Chinese Premier's visit, the two sides discussed the alignment of both sides' development strategies, and expanding collaboration and exchanges in various fields. Both sides also exchanged views on international and regional issues of common concern. A series of cooperation deals covering trade, infrastructure, finance and energy, as well as climate change and media exchanges were signed.

As good-neighborly friends and partners, Li's visit will inject new vitality into the two countries' relationship and open a new chapter of common development and prosperity to benefit the peoples of both countries.

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

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