On June 16,
China and
Mongolia signed an agreement on a strategic partnership, pledging closer cooperation in
Mongolia's exploitation of its mineral resources.
Chinese Premier Wen Jiabao and Mongolian Prime Minister Sukhbaatar Batbold held talks in Beijing regarding their strengthened partnership.
Premier Wen stated that
China expects to strengthen the mutual trust which exists between it and
Mongolia, stating that it will help
Mongolia to develop its industry and increase its energy supply capability. The agreement signed included a loan of $500 million to
Mongolia.