In the midst of a deepening financial crisis, China set up a top-level think tank on Friday with the aim of developing strategies to counter a world economy under siege.

"Our aim is obvious," said former vice-premier Zeng Peiyan, who is heading the think tank. "We should build the centre into an independent world-class think tank to seek China's medium- and long-term development strategies."

Zeng was elected president of the newly minted China Centre for International Economic Exchanges.

The centre will invite experts from home and abroad to explore topics such as the US treasure bonds bubble, the value trend of US currency and disagreements between the United States and China.

Meanwhile, the centre will focus its energy on China's role and opportunities in future globalization, energy and grain security, climate change and China's economic and strategic relationship with leading counties such as the US, Japan, Russia and India.

Zheng Xinli, vice-president of the centre, told China Daily that multinational companies and world-class think tanks are encouraged to forge partnerships with his organization.

(China Daily March 21, 2009)