Sun, November 29, 2009
China > China & World

Chinese Premier: China hopes world's major reserve currency will maintain stable

2009-11-29 14:25:56 GMT2009-11-29 22:25:56 (Beijing Time)  Xinhua English

NANJING, Nov. 29 (Xinhua) -- China hopes the world's major reserve currency will maintain stable, said Chinese Premier Wen Jiabao here Sunday when meeting with three Euro Group leaders.

He was speaking with Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and European Union Economic and Monetary Affairs Commissioner Joaquin Almunia ahead of the 12th EU-China summit.

China has maintained the stability of the exchange rate of the Renminbi (RMB), making an important contribution to global financial stability and economic development, he said.

He said China will continue to enhance the flexibility of the RMB exchange rate, acting on its own initiative and in a controllable and gradual manner, and keep it basically stable at reasonable, balanced levels.

Juncker said the EU is willing to strengthen communication and coordination with China on monetary policies.

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