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Top Sino-German meeting yields closer cooperation

08-31-2012 10:38 BJT Special Report:Premier Wen Attends China-EU Summit, Visits Belgium |

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Chinese President Hu Jintao tells visiting German Chancellor Angela Merkel on Thursday that China supports Europe’s efforts to combat its debt crisis. Earlier today, China’s Premier Wen Jiabao met with Merkel in Beijing, where they were co-chairing the second round of Chinese-German intergovernmental consultations.

China and Germany signed a slew of lucrative trade deals worth several billions of dollars. China also says it’s willing to continue investing in EU government bonds on condition of fully evaluating the risks.

Chinese President Hu Jintao said that the sooner Europe can walk out of its debt-ridden predicament, the more it will be able to contribute to the recovery of the world economy.

Earlier Thursday, Chinese Premier Wen Jiabao and German Chancellor Angela Merkel both headed a team of around 10 government ministers for the second round of their inter-governmental consultations. The mechanism is the first of its kind between China and a major Western country.

Wen Jiabao said, "The two countries launched the mechanism in June last year in Berlin and expanded cooperation in many fields against the backdrop of the flagging global economy. The significance goes beyond bilateral cooperation."

Echoing President Hu’s view, Wen Jiabao says China is willing to continue investing in European Union government bonds on condition of fully evaluating the risks. He says China will enhance its communication and consultations with the EU, the European Central Bank, as well as relevant monetary funds and major countries to support the debt-ridden EU members to ride out their hardships.

During the consultation, China and Germany signed a slew of lucrative trade deals, including a contract for 50 Airbus A320 planes worth up to 4 billion U.S. dollars, between China’s ICBC Leasing and Airbus. Other cooperation deals cover areas including aviation, autos, communications, energy, and the environment.

Merkel suggested that China and Europe to resolve their current dispute over solar panel import duties through consultations and avoid anti-dumping proceedings. Her response came after Germany’s SolarWorld and other European solar panel makers last month filed a complaint seeking import tariffs on Chinese-made solar products.

Premier Wen also said that both sides need to conduct closer financial cooperation in order to safeguard the stability of the international financial system and provide more stable support for economic and trade cooperation. He said that China has always had full confidence in the euro, noting the Chinese side would also like to see European countries use more renminbi in their economic and trade exchanges.

Editor:Wang Xiaomei |Source: CCTV.com

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