Chinese Premier Wen Jiabao told US Treasury Secretary John Snow
on Wednesday that both China and the United States benefited from a
stable Renminbi (RMB).
In a meeting at Zhongnanhai in Beijing, Wen said China adopted a
regulated, singular, floating exchange rate regime based on market
supply and demand.
"The system is not only appropriate for China's practical
situation, but also shows China's high sense of responsibility to
the international community," he said.
China would further explore and improve the exchange rate regime
along with its financial reform, based on its economic development
and performance as well as international balance of payment.
He said the leaders of the two countries perceived and handled
bilateral relations from a strategic level, which guaranteed the
smooth development of China-US relations.
Fruitful cooperation on such issues as economy, trade, terrorism
and the Korean Peninsula nuclear weapons issue proved the two sides
shared many common interests and that continuous enhancement of
links would be conducive to peace and economic growth, Wen
said.
Wen expressed his hope that China and the United States could
put aside differences, seek common ground and eliminate disruptions
so as to continue to improve and expand relations.
Trade and economic cooperation were an important foundation of
China-US ties, he said. Expansion of trade and economic cooperation
according to the principles of equality and mutual benefit would be
conducive to the long-term stable development of relations.
He said China would continue to fulfill its commitments on its
entry to the World Trade Organization.
Snow thanked Wen for his positive remarks on US-China relations
and said Wen's explanation of certain issues of common concern
helped improve mutual understanding and trust.
Snow commended China's fast economic growth and appreciated
China's achievements in its reform and opening-up.
He hoped the two countries would expand trade and economic
relations.
(Xinhua News Agency September 4, 2003)