Hu voices concern at euro debt
Source: Agencies |
August 26, 2011, Friday
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Print Edition
Print Edition
China hopes Europe will take steps to protect China's investments there, President Hu Jintao told French President Nicolas Sarkozy yesterday.
However, he nonetheless voiced confidence in the euro and vowed to keep investing.
Sarkozy, making a brief visit to Beijing, in turn sought China's support for his G20 agenda and the two leaders also discussed Libya's future.
"China is concerned about the impact of the euro debt crisis, hopes that the European economy can maintain stability, and hopes the countries concerned can achieve success in their financial reforms," Hu told Sarkozy.
"China has confidence in the European economy and the euro, and we are sure that Europe has the wisdom and ability to surmount its current hardships and maintain economic stability and growth," said Hu.
Principal market
"China will continue making Europe one of its principal investment markets, and we hope that Europe will take measures to ensure the security of Chinese investments there," he said.
Sarkozy said measures have been taken in Europe to advance financial reform and boost economic governance in the eurozone.
About a quarter of China's record foreign currency reserves of more than US$3 trillion are in euro assets.
Sarkozy came to Beijing seeking China's renewed support for France's plans for the G20 summit of major developed and developing economies it will host in October. "The G20 summit must be conclusive, must be decisive, and must take part in the revival of global growth. It's a major task and China plays an essential role," Sarkozy told Hu.
Sarkozy said France will discuss major problems confronting the global economy with China.
Hu said uncertainties and destabilizing factors affecting the world's economic recovery are on the rise, and the global economy faces "grim" challenges.
He said China is prepared to discuss the issues that have been set for deliberation at the G20 summit and appreciates the "productive preparation" made by France.
"China will continue to support and participate in the summit and work with all G20 members to contribute to the summit's success," Hu said.
Sarkozy has said China's backing is essential for France's G20 goals, which include a roadmap for tackling economic imbalances and measures to reduce market speculation and commodity price volatility.
On Libya, Sarkozy told reporters after his talks with Hu: "We believe that once the period of military intervention, under the control of the UN, is ended, we must absolutely rebuild a unanimous vision among the international community and naturally China has a part of that."
Sarkozy has invited world leaders to meet in Paris on September 1 to discuss Libya's reconstruction.
He said Hu would consider an invitation to attend "in a welcoming spirit."
However, he nonetheless voiced confidence in the euro and vowed to keep investing.
Sarkozy, making a brief visit to Beijing, in turn sought China's support for his G20 agenda and the two leaders also discussed Libya's future.
"China is concerned about the impact of the euro debt crisis, hopes that the European economy can maintain stability, and hopes the countries concerned can achieve success in their financial reforms," Hu told Sarkozy.
"China has confidence in the European economy and the euro, and we are sure that Europe has the wisdom and ability to surmount its current hardships and maintain economic stability and growth," said Hu.
Principal market
"China will continue making Europe one of its principal investment markets, and we hope that Europe will take measures to ensure the security of Chinese investments there," he said.
Sarkozy said measures have been taken in Europe to advance financial reform and boost economic governance in the eurozone.
About a quarter of China's record foreign currency reserves of more than US$3 trillion are in euro assets.
Sarkozy came to Beijing seeking China's renewed support for France's plans for the G20 summit of major developed and developing economies it will host in October. "The G20 summit must be conclusive, must be decisive, and must take part in the revival of global growth. It's a major task and China plays an essential role," Sarkozy told Hu.
Sarkozy said France will discuss major problems confronting the global economy with China.
Hu said uncertainties and destabilizing factors affecting the world's economic recovery are on the rise, and the global economy faces "grim" challenges.
He said China is prepared to discuss the issues that have been set for deliberation at the G20 summit and appreciates the "productive preparation" made by France.
"China will continue to support and participate in the summit and work with all G20 members to contribute to the summit's success," Hu said.
Sarkozy has said China's backing is essential for France's G20 goals, which include a roadmap for tackling economic imbalances and measures to reduce market speculation and commodity price volatility.
On Libya, Sarkozy told reporters after his talks with Hu: "We believe that once the period of military intervention, under the control of the UN, is ended, we must absolutely rebuild a unanimous vision among the international community and naturally China has a part of that."
Sarkozy has invited world leaders to meet in Paris on September 1 to discuss Libya's reconstruction.
He said Hu would consider an invitation to attend "in a welcoming spirit."
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