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Monday, June 27, 2011

China pledges support to crisis hit economies

He told the BBC: "We reached agreement on the Chinese government buying a certain amount of government debts of bonds on the Hungarian side -- that is China lending a helping hand to Hungary at a time when that country is in difficulty.

He added: "We have done this for Hungary and we will do the same thing for other European countries."

Some US politicians have expressed worries that their government owes China so much money, but Mr Wen insisted that lending to European governments would strengthen international relations.

He said: "Europe's debt crisis is expanding. Trust is more important than currency and gold. Now, during the debt crisis, we again bring trust to Europe."

Mr Wen will meet David Cameron today for talks that Downing Street said will seal more than £1 billion of deals for British business. The two leaders are to sign an agreement enabling UK firms to exploit opportunities beyond Beijing and Shanghai in China's fast-growing regional cities, creating opportunities in architecture, civil engineering and research and development.

An agreement to allow British farmers to export chicken and pork to China will also be confirmed.

Downing Street said the visit would mark "the next step in our strengthened relationship" with China.

No 10 said: "China's rapid economic rise is good news for the UK. It means more money flowing into our economies and has the potential to create more jobs and investment opportunities for British business at home and in China.

"The summit will be an opportunity to tap that potential and to continue to work closely with China to find global solutions to a range of issues from climate change to global security."

Mr Cameron's embrace of his Chinese counterpart has angered human rights campaigners, who say Beijing is suppressing democracy and illegally occupying Tibet.

The Prime Minister has argued that only by guaranteeing freedom of speech and the rule of law can the Chinese leadership ensure the country's long-term stability.

However, he is not expected to dwell publicly on the issue, focussing his meetings on economic and commercial issues.



Article Source KBG Test Blog (http://rc.kbg.me)

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