On November 28, 2007, Chinese Premier Wen Jiabao met at the Great Hall of the People with President of Euro group Jean-Claude Juncker, who is also Prime Minister and Minister of State and Finance of Luxembourg, Jean-Claude Trichet, President of the European Central Bank, and Joaquin Almunia, Commissioner for Economic and Monetary Affairs of the Commission of the EU.

Wen said China and the EU are the most important trade partners for each other, and are deepening their cooperation in investment, finance and other fields. Their cooperation is mutually beneficial, and has boosted their economies and contributed to the global economic growth, he added.

The Chinese government would improve its managed, floating foreign exchange rate mechanism and add more flexibility to the RMB band, the premier said. China would carry out the task "in a proactive, manageable and gradual manner," he added. Wen said the Euro has greatly appreciated in recent years due to devaluation of the U.S. dollar and the international market's turbulence. China has fully noted the EU's concerns on the exchange rate issue and would make joint efforts with the international community in gradually solving the imbalance in the world economy, he added. Wen called on the world's three major economies including the United States, the European Union (EU) and Japan to further strengthen coordination, shoulder the main responsibilities for keeping the international currency system stable and contribute to the orderly adjustment of the international exchange rate system.

Juncker said he agrees with China's various reform and opening-up polices very much and congratulated China on its success. He said he hopes to see more flexibility in the RMB exchange rate, which he said would help ease the China-EU trade's imbalance, and prevent trade protectionism.

Governor of the People's Bank of China Zhou Xiaochuan, Minister of Finance Xie Xuren and Vice Foreign Minister Wang Yi attended the meeting.