On October 30, 2008, Chinese Premier Wen Jiabao met in Astana with Sanj Bayar, prime minister of Mongolia, which is an SCO observer, on the sidelines of the 7th prime ministers' meeting of the Shanghai Cooperation Organization (SCO).

During the meeting, Wen hailed the continued development of the good-neighborly partnership with mutual trust between the two countries, describing the two countries as good neighbors, friends and partners. Currently the dramatically changing international situation and the spreading global financial crisis have posed challenges to all countries in the world. Both China and Mongolia are experiencing an important stage of development, and the two sides should strengthen communication and coordination to cope with risks and challenges, safeguard common security and development interests and lift China-Mongolia good-neighborly friendship to a new height, Wen said.

Wen proposed that the two countries maintain high level contacts and enhance political mutual trust. Next year marks the 60th anniversary of the establishment of diplomatic ties between China and Mongolia. The two countries should take this opportunity to further bilateral exchanges and cooperation, Wen said. China and Mongolia should boost cooperation in such priority areas as mineral resource exploration and infrastructure construction, so as to realize a mutually beneficial and win-win situation, he noted. Wen also said the two countries should strengthen cooperation on multilateral affairs in an effort to maintain regional peace and stability.

Bayar said Mongolia highly values its friendly cooperation with China and hopes to increase exchange of visits between leaders of the two countries. He also expressed hope that both sides will give full play to the role of the joint committee on economic, trade, scientific and technological cooperation between the two governments and expand cooperation in the fields of economy, trade and energy. Mongolia is ready to work with China to cope with the current global financial crisis, he added.