New economic agency

Ministry of Foreign Affairs inaugurated a new department Tuesday to promote the country's international economic cooperation and safeguard national economic security.

The newly established Department of International Economic Affairs will implement the win-win strategy of opening up, safeguard national interests and economic security, and promote world economic growth and the common development of all countries, ministry spokesman Hong Lei said at a regular press briefing.

Zhang Jun, former Chinese ambassador to the Netherlands, was appointed as the first chief of the newly established department.