New economic body in Asia

China has called for closer ties between Asian nations as it launched a new regional body, the Boao Forum for Asia.

The body, which will be permanently based in Boao on the southern Chinese island of Hainan, was launched by President Jiang Zemin, who urged Asian countries -- as he put it -- to stand up to the challenge of globalisation.

According to the Chinese news agency, the Forum is structured along the lines of the World Economic Forum in Switzerland, and is intended to be a non-governmental, non-profit organisation to improve dialogue, co-ordination and co-operation among Asian countries. The former Australian prime minister Robert Hawke, the former Japanese prime minister Yasuhiro Nakasone, and King Birendra of Nepal are in Boao.

From the newsroom of the BBC World Service