12th China-EU summit opens in Nanjing

Chinese Premier, Wen Jiabao, and European political and business leaders have met in Nanjing for the 12th China-EU summit. Both sides aim to reach consensus on tackling the global financial crisis and climate change, and boosting China-EU ties.

Chinese Premier Wen Jiabao (3rd L), European Commission President Jose Manuel Barroso (3rd R) and Swedish Prime Minister Fredrik Reinfeldt (2nd R), whose country currently holds the rotating EU presidency, co-chair the 12th  China-EU summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009. The 12th China-EU summit began here Monday morning.[Photo: Xinhua]

The China-EU summit is the highest consultation mechanism between both sides.

The EU is represented by European Commission President, Jose Manuel Barroso, and Swedish Prime Minister Fredrik Reinfeldt, whose country holds the EU's rotating presidency.

Economic issues are high on the agenda of their talks.

The two sides' major concerns are how to maintain the current economic recovery amid the worst financial crisis in decades. Discussion has centered on whether an early withdrawal of the stimulus policies is feasible.

Chinese Premier Wen Jiabao told European leaders that an early withdrawal of the current stimulus policies may not be a wise choice for China's economy.

He noted that the stimulus measures are still needed to consolidate the momentum of economic progress. The Premier warned an untimely withdrawal could undermine achievements China has made so far. China announced on Friday that it will continue its proactive fiscal policy and moderately easy monetary policy next year.