Is China secretly building up its huge gold stockpile? www.rt.com

Official data from the People’s Bank of China (PBOC) shows the country’s gold reserves have not increased since 2016, when Donald Trump was elected US president. They stayed unchanged at 59.24 million ounces (1,843 tons).
As of the end of June, the PBOC valued its precious metal reserves at $74.1 billion.

Centerra, Kyrgyz Gov’t delay completion of deal over Kumtor mine www.mining.com

Canada's Centerra Gold (TSX:CG) has once again agreed to extend the deadline for completion of all conditions included in a deal it signed in September with the Kyrgyz government, ending long-dragged environmental disputes over the firm’s Kumtor gold mine, the country’s largest.

Mongolia, China aim for 3 million mutual travellers annually www.zgm.mn

Foreign Minister of the People's Republic of China (PRC) Wang Yi is visiting Mongolia until August 25 at the invitation of his Mongolian counterpart Tsogtbaatar Damdin. According to authorities, sides discussed regional and international cooperation, as well as activating Comprehensive Strategic Partnership in selected sectors. Last June, President of Mongolia Battulga Khaltmaa expressed his interest in fastening the projects connected to the economic corridor and his Chinese counterpart announced his alignment with the initiation during a trilateral meeting with the Russian Federation. Also, Mongolia and China have signed 36 agreements worth USD 4.6 billion, including 300MW coal-fired power plant in Buuruljuut and 100MW power project in Zavkhan aimag, during the bilateral business meeting which took place earlier this year. During the three-day visit, Chinese Foreign Minister will visit the Chinggis Khaan airport for the special passage established in the check-in section opened under the Travel Facilitation project of Belt and Road initiation, and attend the opening ceremony of Ulaanbaatar Wastewater Treatment Plant project, which is financed by the PRC under the feasibility study of France.

No alcohol at work, Mongolia tells its civil servants www.xinhuanet.com

ULAN BATOR, Aug. 22 (Xinhua) -- The government of Mongolia has decided to prohibit government employees from drinking alcohol during work hours, and impose a ban on keeping alcoholic beverages at governmental organizations at all levels, the government's press office announced on Thursday.

Bilateral trade turnover to be reached USD10 billion by 2020 www.montsame.mn

Ulaanbaatar /MONTSAME/ State Councilor and Minister of Foreign Affairs of the People’s Republic of China Wang Yi is paying an official visit to Mongolia on August 23-25, at the invitation of his Mongolian counterpart D.Tsogtbaatar.

The formal measures of the visit commenced with official talks of the Foreign Ministers. Afterwards, Foreign Minister of Mongolia D. Tsogtbaatar and Foreign Minister of China Wang Yi signed the Memorandum of Understanding between the governments of Mongolia and the People’s Republic of China on marking the 70th anniversary of diplomatic relations of the two countries and ‘2019-2020 Cooperation Plan’ between the Foreign Ministries. Following the signing ceremony, the Ministers made a report to the press.

At the press conference, Minister D.Tsogtbaatar said, “Our official talks wrapped up successfully. We have exchanged views on strengthening bilateral comprehensive strategic partnership relations, deepening mutual understanding and political trust, intensifying trade and economic cooperation and launching big projects. Moreover, the sides agreed to make effort to increase bilateral trade turnover in order to eliminate a dependency of Mongolia’s economy from loans and assistance and to secure balanced sustainable development. 2019 marks the 70th anniversary of establishment of diplomatic relations. The People’s Republic of China is a country that recognized sovereignty of Mongolia and Mongolia backed China on strengthening its position at the United Nations.”

“During the talks held today, we agreed that China would augment its investment to sectors except mining when increasing its investment to Mongolia. An action of establishing Free Trade Agreement is starting. We also agreed to launch cooperation in ZamynUud-Erenhot zones. The sides review that the visit is effective to activate and continue friendly ties between Mongolia and China,” underlined D. Tsogtbaatar.

Foreign Minister of the People’s Republic of China Wang Yi said, “I have exchanged views with Mongolian side on four matters. Firstly, mutual political trust and support will be enhanced. The comprehensive strategic partnership between the two sides will be enriched with new content. Secondly, bilateral relations will be intensively developed through the opportunities of comprehensive strategic partnership. Thirdly, development of the two countries will be strengthened in accordance with the Road and Belt. Fourthly, bilateral ties will be elevated into a new level on the occasion of the 70th anniversary of the establishment of diplomatic relations between the two countries.”

“Moreover, we reached a number of important agreements: to respect national interests of each other, to protect political foundations of both sides, to carry out Belt and Road in line with the Development Road Program of Mongolia and make a plan of action, to deepen mutually beneficial cooperation. Additionally, the sides signed an intergovernmental Memorandum on celebrating the 70th anniversary of the establishment of diplomatic relations between the two countries. Both sides will work on bringing bilateral trade turnover to USD 10 billion by 2020. In addition, China is willing to accept Mongolia’s proposal to increase the export of agricultural and mining products,” said Wang Yi.

The same day, Foreign Minister Wang Yi paid courtesy calls on the President of Mongolia Kh.Battulga and Speaker of the Parliament M.Enkhbold.

Furthermore, the Minister will attend the launching of construction of a new Wastewater Treatment Plant in Ulaanbaatar on August 25 and will visit rural areas to get acquainted with issues on regional and border cooperation.

B.Batchimeg

Inflation rate stands at 7.7 percent nationwide www.gogo.mn

The National Statistical Office reported that the overall rate of inflation stood at 7.7 percent nationwide and at 8.8 percent in Ulaanbaatar as of the end of July, nearing a target rate of 8 percent specified in the central bank's Monetary Policy Guidelines for 2018.

8th Asia-Pacific Forum on Renewable Energy takes place in Ulaanbaatar www.gogo.mn

From August 22 through 24, the 8th Asia-Pacific Forum on Renewable Energy is being held in Ulaanbaatar. Over 150 delegates from China, Germany, South Korea, Sri Lanka, Iraq, Japan, and Bhutan are attending the forum to discuss renewable energy development prospects, electricity savings, as well as electricity storage technology.

China urges Mongolia to speed up FTA talks www.ecns.cn

Chinese State Councilor and Foreign Minister Wang Yi urged Mongolia to speed up the free trade agreement talks when he was meeting Mongolian President Khaltmaa Battulga on Thursday.

Wang said the two countries should expedite the talks on the signing of a free trade agreement, so as to bring substantial benefits to both peoples.

Chinese Premier Li Keqiang made the call when he was hosting Mongolian Prime Minister Ukhnaa Khurelsukh in Beijing in April. Li said China and Mongolia should begin research into a free trade agreement and speed up the launch of a cross-border cooperation zone in a bid to make use of the two countries' complementary advantages.

The bilateral trade volume reached 6.7 billion US dollars in 2017, accounting for 63 percent of Mongolia's total trade. The two countries have set a 10-billion-US-dollar target for 2020.

Wang is currently on a three-day visit to Mongolia.

He praised the bilateral ties, saying China and Mongolia are close neighbors linked by mountains and rivers. Next year marks the 70th anniversary of the establishment of diplomatic relations, and China is willing to take the opportunity to lay out a new blueprint for the future development of bilateral ties, Wang said.

Battulga echoed Wang's calls. The president said Mongolia always regards the bilateral ties as diplomatic priority.

Mongolia hopes to strengthen collaboration in such fields as agriculture, animal husbandry, economy and trade, tourism, and infrastructure construction, so as to bring benefits to both peoples, Battulga said.

'Belt and Road Initiative is no Marshall Plan'

Regarding China's proposed Belt and Road Initiative, Wang Yi applauded Mongolia's active participation and called on efforts to deepen collaboration under the framework.

China is ready to strengthen interconnection and mutual trust with Mongolia within the framework of the Belt and Road Initiative, improve both peoples' livelihood, boost people-to-people exchanges, and continuously promote the cooperation between China, Mongolia and Russia, Wang said.

Wang stressed the Belt and Road Initiative emphasizes public goods that China wants to provide to people all over the world.

It is neither China's Marshall Plan nor a geopolitical instrument, Wang told reporters at a joint press conference with his Mongolian counterpart Damdin Tsogtbaatar.

The Belt and Road Initiative is always based on mutual benefits and trust, transparency and green growth, and the framework abides by international rules and laws in different countries, Wang stressed.

Landlocked Mongolia has also been using China’s transport network as well as its commodities exchanges in order to gain access to foreign markets.

In March, the two countries started another freight trade service linking Caofeidian port in north China's Hebei Province and Mongolia's capital city Ulan Bator. The two sides also signed a strategic cooperation agreement to promote the China-Mongolia-Russia economic corridor.

Mongolia and China aim to increase trade volume to USD 10 billion www.news.mn

State Councilor of the People's Republic of China and Minister of Foreign Affairs Wang Yi is currently making an official visit to Mongolia. He will stay in Ulaanbaatar on 23-25 August, at the invitation of Mongolian Foreign Minister D.Tsogtbaatar.

World Bank launches world-first blockchain bond www.reuters.com

SYDNEY (Reuters) - The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million ($73.16 million) deal designed to test how the technology might improve decades-old bond sales practices.