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China will not reduce bond-holdings of euro

Monday 4 October 2010 - by Nicola York

China's Premier says that China supports a stable euro and is ready to strengthen its cooperation with the EU.

Wen Jiabao is visiting Brussels for the Asia-Europe Meeting of heads of state and Government and said he fully supports the measures adopted by the EU and the International Monetary Fund following the sovereign debt crisis.

Jiabao said: "China will not reduce its euro-bond holdings and China supports a stable euro."

Jiabao said that thanks to joint efforts, China-EU trade has already exceeded the pre-crisis level.

He said: "China-EU relations have made three big leaps forward: from constructive partnership to comprehensive partnership and then to comprehensive strategic partnership."


Economically, he said, the EU has been China's largest trading partner for six consecutive years, while China has risen to be the EU's second largest trading partner.

Jiabao said China will further improve its investment environment, better protect intellectual property, expand trade and investment with Europe and raise the level of technological cooperation.

He added: "China-EU relations have reached unprecedented breadth and depth and the two sides have become indispensable partners in each other's development endeavor."

The ASEM summit brings together the 27 EU member states and the European Commission with 16 Asian countries and the ASEAN Secretariat for informal dialogue and cooperation.


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