Chinese Premier Wen Jiabao on Wednesday called on the United
States, the European Union (EU) and Japan to shoulder the main
responsibilities for keeping the international currency system
stable.
During a meeting with Jean-Claude Juncker, President of Euro
group, Wen also asked the world's three major economies to further
strengthen coordination, and contribute to the orderly adjustment
of the international exchange rate system.
Wen said the Euro has greatly appreciated in recent years due to
devaluation of the U.S. dollar and the international market's
turbulence.
China has fully noted the EU's concerns on the exchange rate
issue and would make joint efforts with the international community
in gradually solving the imbalance in the world economy, he
added.
Wen said China and the EU are the most important trade partners
for each other, and are deepening their cooperation in investment,
finance and other fields.
Their cooperation is mutually beneficial, and has boosted their
economies and contributed to the global economy's increase, he
added.
The Chinese government would improve its managed, floating
foreign exchange rate mechanism and add more flexibility to the RMB
band, the premier said.
China would carry out the task "in a proactive, manageable and
gradual manner," he added.
Juncker, who is also Prime Minister and Minister of State and
Finance of Luxembourg, said he agrees with China's various reform
and opening-up polices very much and congratulated China on its
success.
He said he hopes to see more flexibility in the RMB exchange
rate, which he said would help ease the China-EU trade's imbalance,
and prevent trade protectionism.
Jean-Claude Trichet, President of the European Central Bank, and
Joaquin Almunia, Commissioner for Economic and Monetary Affairs of
the Commission of the EU also attended the meeting.
(Xinhua News Agency November 29, 2007)
