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Hu pledges China's co-op with debt-plagued Spain

Updated: 2012-06-21 04:39
By Wu Jiao in Tenerife, Spain (

China supports efforts by the European Union and other parties to resolve the euro zone debt crisis, President Hu Jintao said Wednesday at a meeting with Spain's deputy prime minister, Soraya Saenz de Santamaria.

Hu was on a stopover in Tenerife on his return home from the Group of 20 leaders' summit in Mexico.

The president also expressed the view that Europe has the power and wisdom to overcome difficulties caused by the crisis and to achieve economic recovery and growth.

Saenz thanked China for its support of Spain and Europe during the crisis. She said maintaining European unity benefits the world as well as development of China's relationship with the continent.

The Spanish minister told reporters afterward that her meeting with Hu helped reinforce bilateral cooperation "that could be very positive for Spain in important areas such as increasing our exports and the possibilities for greater Chinese investment in Spain and mutual cooperation in policies supporting growth and employment."

Saenz didn't respond to a question about possible purchases by China of Spanish government bonds.

Beijing has expressed concern about the ongoing crisis in the eurozone, a top destination for Chinese exports.

Hu said that at the just-concluded summit in Los Cabos, Mexico, G20 leaders agreed that the group must now focus on maintaining growth, increasing jobs and promoting stability.

The bloc's members vowed to continue to uphold the spirit of unity and win-win cooperation to strengthen coordination on macroeconomic policies and work for strong, sustainable and balanced growth of the global economy, Hu said.

Hu said Chinese-Spanish ties are at their best in history and that the two countries should enhance mutual trust, and expand trade and economic cooperation. The president also urged an increase of people-to-people exchanges and stronger cooperation on international affairs.

Saenz said Spain and China share the same views on many major issues. Her country, she said, is ready to maintain high-level contact with China and to expand cooperation in trade, investment, science, technology, new energy sources, tourism and culture.

Hu was scheduled to return to Beijing on Thursday.