China and the European countries using the same currency Euro
will work together to avoid big fluctuations of foreign exchange
rates.
The message was conveyed when China's central bank governor Zhou
Xiaochuan met with a group of senior officials of the European
Union (EU) visiting China.
They include the European Central Bank President Jean-Claude
Trichet, Luxembourg Prime Minister Jean-Claude Juncker, who is also
chairman of the Eurogroup of finance ministers, and Joaquin
Almunia, the EU's monetary affairs commissioner.
Both sides believed they should make joint efforts and take
comprehensive measures to step up economic structural adjustments
and prevent big fluctuations in the foreign exchange rates, while
at the same time make a contribution to the orderly adjustment of
global imbalances, according to a statement issued by the People's
Bank of China.
In the meantime, both sides said they were willing to have more
exchanges and cooperation.
Many senior officials of the EU, including European Commission
President Jose Manuel Barroso, will attend the China-EU Leaders'
Meeting slated on Wednesday.
Liu Jianchao, spokesman for the Chinese Foreign Ministry, said
earlier that China expected "substantial results" from the summit,
and that "many issues will be touched upon at the meeting."
The China-EU Leaders' Meeting was started in 1998 in London and
convenes annually.
(Xinhua News Agency November 28, 2007)
