Chinese premier to meet top EU financial officials

Wednesday, November 25, 2009
BEIJING: China said on Tuesday that Premier Wen Jiabao will hold talks at the weekend with European financial chiefs to listen to their concerns that the yuan is overvalued.

He will meet Eurogroup chief Jean-Claude Juncker, European Central Bank head Jean-Claude Trichet and EU economic and monetary affairs commissioner Joaquin Almunia in Nanjing Sunday, Vice Foreign Minister Zhang Zhijun told reporters.

The three “have expressed their intention to come to China at the end of November to exchange ideas with competent authorities from the Chinese side on macroeconomic and financial issues,” Zhang said.

The meeting will come ahead of the China-EU summit scheduled for Monday also in Nanjing, he added.

Almunia said last week the EU would like to see Beijing delink the yuan from its de facto peg to the US dollar and eventually revalue the Chinese currency.