Home » China supports EU measures for financial stability, says vice premier

China supports EU measures for financial stability, says vice premier

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BEIJING, Dec. 21 (Xinhua) – China supports the measures taken by the European Union (EU) and the International Monetary Fund to create financial stability, said Chinese Vice Premier Wang Qishan here Tuesday.

Hailing the good momentum of the China-EU comprehensive strategic partnership, Wang said at the opening of the 3rd High-Level Economic and Trade Dialogue (HED) that China has taken concrete actions to help some EU members combat the sovereign debt crisis.

China has become the second largest market for the EU and the EU has been China’s top trading partner for six straight years, Wang said, citing that the trade volume for the first 11 months this year had reached 433.9 billion U.S. dollars, up 33 percent year on year.

“It is in the fundamental interests of China and the EU to further strengthen mutually beneficial economic cooperation,” said Wang.

At present, the world economy is recovering gradually amid inadequate global demand, excessive liquidity and a turbulent international financial market, said Wang.

To cope with this complicated situation, the Chinese government is improving macro-control and has decided to adopt a proactive fiscal policy and a prudent monetary policy to maintain steady and relatively fast economic growth, he said.

“China and the EU should have confidence and enhance cooperation to work together for a robust, sustainable and balanced growth,” the vice premier said.

The HED is an important platform for China-EU economic and trading cooperation, Wang said, noting that China has made active progress in optimizing the investment environment, maintaining product safety and protecting intellectual property rights (IPR) since the 2nd HED in May, 2009.

The HED was agreed on by Chinese Premier Wen Jiabao and European Commission President Jose Manuel Barroso at the 10th China-EU summit in November 2007. The annual high level dialogue aims to complement and reinforce ministerial-level China-EU dialogues.

China is carrying out special campaigns against IPR infringement, the manufacturing and selling of fake and inferior products and promoting the use of genuine software, Wang said.

Wang called on the EU to make substantial headway in relaxing the restrictions on its export of high-tech products to China.

He also urged the EU to admit China’s market economy status as soon as possible and protect the legal rights of China’s enterprises in EU countries.

Wang hoped that both China and the EU could tap their cooperation potential with regards to new energy, new materials, aerospace, energy saving and environmental protection.

China and the EU member states should implement the consensus of the Group of 20 (G20) summits, push forward the reform of the global economic governance structure, accelerate the adjustment of the international economic and financial regulations and standards, oppose all forms of protectionism and work for early, comprehensive and balanced outcomes from the Doha round of negotiations, Wang said.