China's president reiterates confidence in EU recovery from financial crisis

China will continue to support Europe's work to stabilize its economy and will join the global effort in solving Europe's debt issue, President Hu Jintao said Monday while meeting German Chancellor Angela Merkel.

The two leaders met Monday morning prior to the opening of the G20 Summit that afternoon.

During the meeting, Merkel briefed Hu on the latest developments in the European economic and financial crisis and laid out what the European Union's responses will be.

Hu stressed that China supports the continent's efforts in promoting integration and stabilizing the euro.

A united and prosperous Europe serves the interests of the world, including China, Hu said, reaffirming Beijing's confidence that Europe has the wisdom and ability to overcome its difficulties.

China has offered a variety of aid to Europe within its power since the start of the eurozone debt crisis and China will continue to back the EU's efforts to achieve economic recovery and growth. Hu added that China will work with the glboal community to help solve the crisis.

Merkel responded by saying that European countries appreciate China's confidence in the continent and its support for European integration.

She also noted that a steady, robust Chinese economy is important to the global economic recovery.

Hu said China and Germany are important and cooperative partners who share vast common interests.

Hu noted that two countries have coordinated and communicated well on key global and regional issues in multilateral frameworks such as the G20 and said that he was glad to see constant progress in bilateral ties.

He also urged the two nations to advance collaboration between enterprises in each country at the domestic level.

China's president, against the backdrop of a complex and volatile international situation and a sluggish world economy, said the promotion of mutual political trust and bilateral cooperation between China and Germany not only helps bolster steady economic growth in both countries, but is also conducive to China-Europe cooperation and a global economic recovery.

Merkel described Germany and China as close partners, saying their cooperation has been fruitful.

Merkel said she is looking forward to a new round of intergovernmental talks between the two this year and hopes that two-way investment and business cooperation will be achieved.

Hu is also expected to meet with France's President Francois Hollande and US President Barack Obama on Tuesday.

wujiao@chinadaily.com.cn