China supports EU measures for financial stability

China supports the measures taken by the European Union (EU) and the International Monetary Fund (IMF) to create financial stability, said Chinese Vice Premier Wang Qishan Tuesday, state press reported.

At the opening of the 3rd High-Level Economic and Trade Dialogue in Beijing, Wang said China has taken concrete actions to help some EU members combat the sovereign debt crisis, according to Xinhua News Agency.

“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 USD 433.9 billion, up 33 percent year on year.

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.

Wang also 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.


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KUNA

KUNA is the Kuwait News Agency

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