China has set up a top-level think tank on March 20 with the aim of developing strategies to counter a world economy under siege in the midst of a deepening financial crisis.

Professor Qian Yingyi, Dean of Tsinghua SEM was elected Executive Vice-director of the Council of the newly minted China Center for International Economic Exchanges.

As a nationwide non-profit consulting institution, the centre will invite experts from home and abroad to explore topics such as the US treasure bonds bubble, the value trend of US currency and disagreements between the United States and China. Meanwhile, the centre will focus its energy on China's role and opportunities in future globalization, energy and grain security, climate change and China's economic and strategic relationship with leading counties such as the US, Japan, Russia and India. Zeng Peiyan, former Chinese Vice Premier serves as the Director of the Council of the Center.