Xinhua China-related world news summary at 0930 GMT, Oct. 2

The China-proposed Belt-Road Initiative, which is highly consistent with Mongolia's Steppe Road program, will guide the win-win cooperation between the two countries.

The Belt-Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative proposed by Chinese President Xi Jinping in 2013. It brings together countries in Asia, Europe and Africa via overland and maritime networks. (China-Mongolia-Relations)

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NEW YORK -- Thanks to the operation of the Chinese Renminbi (RMB) clearing bank in the United States, trading with Chinese companies has been made a lot easier for the Chicago Mercantile Exchange (CME).

One of America's earliest and most honored exchanges, CME's average daily volume with China this August amounted to 70,000 units. Until later September, however, all these trades had to go through a whole process of converting the RMB into other forms of collateral. (US-RMB-Clearing Bank)

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CAIRO -- The 1st River Nile Dragon Boat Festival, a unique event ever held in Egypt that combines sport and culture together, kicked off on Saturday.

"The event is a new chapter in the Egyptian-Chinese cultural and civilization intermingling," said Atef Abdel Hamid, Governor of Cairo. (Egypt-Dragon Boat Festival)

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MEXICO CITY -- The inclusion of Chinese currency, the Renminbi or RMB, in its Special Drawing Rights (SDR) basket by the International Monetary Fund (IMF) reflects the monetary and financial stability in China, a Mexican expert has said.

On Saturday, the RMB officially took its place among the world's reserve currencies, joining the U.S. dollar, euro, British pound and Japanese yen, to become the world's fifth reserve currency. (Mexico-China-IMF) Endi