China supports rescue moves to end EU sovereign debt crisis

BEIJING, May 24 (Xinhua) -- China was concerned about the ongoing sovereign debt crisis in several eurozone nations and supports the rescue actions taken by the European Central Bank and the International Monetary Fund (IMF), Chinese Minister of Commerce Chen Deming said here Monday.

"China believes the European Union (EU) is able to strengthen supervision over the sovereign debt, and hopes the relevant nations will overcome the crisis," Chen told a news briefing on the second round of the China-U.S. Strategic and Economic Dialogues (S&ED).

China and the United States held the second round of the S&ED Monday in Beijing to discuss key issues including trade, investment, global economic recovery and climate change.

The EU sovereign debt crisis would also influence the trade between the United States and China, although the impact would not be severe, Chen said.

"China's trade surplus fell 34 percent last year and has decreased 78.6 percent in the first four months of this year. China will continue to increase its imports in line with stable exports," he added.

Chinese President Hu Jintao's special representatives, Vice Premier Wang Qishan and State Councilor Dai Bingguo co-chaired the economic and strategic tracks of the S&ED with U.S. President Barack Obama's special representatives, Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton, respectively.