Jiang sends a letter seriously to U.N. Secretary-General Kofi Annan saying China is seriously considering signing an important international covenant on civil and political rights. China's central bank governor Dai Xianglong outlines bold steps to avoid a Southeast Asian style financial crisis, including a sweeping reorganization of its creaking banking system and a plan to clean up bad debt. President Clinton formally certifies China has met nuclear nonproliferation requirements, smoothing the way for U.S. industry to seek orders for China's nuclear power program. U.S. Defense Secretary William Cohen says he received personal assurances from China's President Jiang Zemin that China has halted all transfers of anti-ship cruise missiles to Iran and will not help Iran upgrade the cruise missiles it now has. China's Foreign Ministry invites U.N. human rights official Mary Robinson to visit the country.
China offers political talks with Taiwan as soon as possible and says there are no preconditions.
Taipei immediately scorns the invitation as old rhetoric. Outspoken Chinese dissident Lin Xinshu makes public a letter to President Jiang Zemin urging a Lunar New Year amnesty for all jailed political prisoners. China announces a squad for the Nagano Olympics aimed at bringing the country their first Winter Games gold medal. Britain launches a new era in relations with its former colony when Foreign Secretary Robin Cook flies in for the highest level British visit to Hong Kong since the 1997 handover. Taiwan Prime Minister Vincent Siew discusses Asia's financial turmoil and bilateral cooperation with Indonesian President Suharto.