China Hopes for Stability of Eurozone Economy

2011-11-02 BEIJING (Xinhua) - Chinese President Hu Jintao said in a written interview on Wednesday that China sincerely hopes the eurozone economy and the euro will maintain stability.

"China has noted that the leaders of relevant eurozone countries have repeatedly pledged their determination, ability and resources toward solving the sovereign debt problems," Hu told French daily Le Figaro ahead of the G20 summit scheduled for November 3-4 in Cannes, France.

European leaders agreed on October 27 that private creditors must accept a 50 percent cut in the value of the Greek government debt they hold, and the bailout fund will be increased to 1 trillion euros ($1.37 trillion).

Hu also said that China hopes the results of the summit will help to stabilize the European financial market, and promote economic recovery and development, adding that the results will show Europe's unity.

In regards to China-EU relations, Hu said that China always considers Europe an important power on the international stage and supports European integration.

"China is willing to strengthen mutual understanding and trust with the European side, and expand and deepen pragmatic cooperation in all areas," said Hu.

The partnership between China and Europe not only contributes to China's development and European economic recovery, but is also in favor of world peace, stability and prosperity, Hu added.