China promises rare earth, EU urges market-based yuan

China promises rare earth, EU urges market-based yuan

Beijing: China has reaffirmed to the visiting European officials that it would continue to supply rare earth to Europe, EU trade commissioner Karel De Gucht told a news conference on Tuesday.

EU economics and monetary affairs commissioner Olli Rehn said at the same news conference closing a China-EU dialogue that China was in need of a more market-based yuan exchange rate, reiterating the EU’s long-standing position.

Rehn, the EU’s top economic official, also said economic recovery has taken hold in Europe.

Gucht, the EU’s trade chief, said China and Europe have agreed to open up two-way investment.

Close