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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China: NKorea should not be focus of Asian summit By HENRY SANDERSON,Associated Press Writer AP - Thursday, April 9 BEIJING - China said it wants this weekend's Asian summit to focus on shoring up regional trade as exports to the U.S. and Europe slow, not North Korea's latest rocket launch. ADVERTISEMENT Chinese Premier Wen Jiabao will travel to Pattaya, Thailand, Friday to attend the annual East Asia Summit, which brings the 10-member Association of Southeast Asian Nations together with China, Japan, South Korea, India, Australia and New Zealand. The global financial crisis is a "serious challenge" to the region and the meeting needs to further efforts on boosting regional trade and investment, Assistant Foreign Minister Hu Zhengyue said at a briefing for reporters. While tackling the global financial crisis is high on the agenda of the meeting, Sunday's rocket launch by North Korea is likely to be a hot topic as well. North Korea claims the rocket carried a satellite into space, although the U.S. and South Korea say nothing reached orbit and the launch was really a test of its long-range missile technology. They and Japan are leading a campaign in the U.N. Security Council to censure the North. But China, North Korea's closest ally, has urged restraint. Hu said the rocket launch should not be a specific topic of discussion at the traditional three-way breakfast meeting involving China, Japan and South Korea. "Parties should react proportionately and in a responsible manner," Hu said, repeating the standard line used by China ever since Sunday's test. On the trade front, negotiations to set up a free trade area between China and ASEAN by 2010 have been completed and the agreement will be signed this year, Hu said. Trade between China and ASEAN last year was $230 billion, representing 9 percent of China's foreign trade, he said. "We should intensify our efforts on investment, especially Chinese investment in ASEAN countries," Hu told reporters. China will also sign an investment agreement with ASEAN at the meeting, Hu said, without giving details. China is interested in building airports, roads and other infrastructure, he said. Beijing will also consider further currency swaps with countries in the region, as well as extra assistance to the less developed among them, Hu said. China has signed a string of agreements in recent months promising to lend yuan to South Korea, Malaysia and Indonesia if needed to respond to a financial emergency. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Oil extends losing streakAP - 1 hour 30 minutes ago LDK, Q-Cells eye Europe, China in joint ventureReuters - 1 hour 52 minutes ago China's Ping An says net profit down 99%AFP - 2 hours 28 minutes ago HK's Citic Pacific chairman steps down amid probesAP - Thursday, April 9 Related Articles: Business Crude oil stockpiles grew less than expectedAP - 1 hour 9 minutes ago COPPER-Major market developments in MarchReuters - 1 hour 13 minutes ago FCC gets going on national broadband planAP - 1 hour 17 minutes ago Suncorp-Metway launches $2.5 bln note sale - IFRReuters - 1 hour 22 minutes ago Volkswagen US CEO pushes for fuel efficiencyAP - 1 hour 22 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Journalists get shock with 'sexy' White House call UN sounds warning after Antarctica ice shelf rips German, Japanese data jolts investors Ailing lender RBS to cut up to 9,000 jobs Israeli Jews hold rare prayer to bless the sun View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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