On October 5, 2010, Chinese Premier Wen Jiabao met with Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and EU Economic and Monetary Affairs Commissioner Olli Rehn in Brussels.
Wen said that as the world economy was gradually recovering with uncertainties still hovering high, China and the EU should strengthen policy coordination and work together to combat the international financial crisis, adding it is of great significance to the economic development of the two countries and the sustained recovery of the world economy.
Wen called on both sides to develop healthy ties from a strategic perspective as the EU has become China's largest trading partner while China stands as the EU's important exporting market. China would also continue to expand import from the EU and strive to balance the trade, said Wen, adding that China was committed to transforming its economic development pattern, restructuring the economy and increasing domestic demands. Wen said China would further reform its formation mechanism of the yuan exchange rate to increase the currency's flexibility.
Wen urged the European Union (EU) to objectively and fairly treat the RMB exchange rate issue as that would benefit the EU, China, and the world economy.
The Euro Group leaders said China has made important contributions to coping with the global financial crisis. They appreciated China's support for the euro and the euro zone, saying the EU and China were good partners and good friends and enjoy extensive common interests. They also said the EU rejected both trade protectionism and currency war, expressing support for equal dialogue so as to build up mutual understanding. They agreed differences and problems should be solved through consultations.