Brussels, 21/05/2010 (Agence Europe) - China, which wants a strong, stable euro, believes that EU and IMF efforts will bear their fruit, said Chinese Trade Minister Chen Denming after a meeting with European Trade Commissioner Karel De Gucht in Brussels on Friday 21 May. “As a member of the IMF, China will bear its responsibility in the rescue packages for the countries concerned,” the Chinese minister said. When asked about the linking of the yuan to the dollar, which helped Chinese exports, he ruled out any possibility of a change in Beijing's monetary strategy, stressing that it was a “sovereign” matter. He also noted that China had allowed its currency moderately to appreciate recently, the yuan having gone up 15% against the euro. The stability of the main currencies was essential, Chen insisted, highlighting that appreciation or depreciation would have a major impact on the world economy. After discussions during which the main trade disputes between the EU and China were debated, De Gucht welcomed the setting up of a working group on intellectual property rights. He announced future negotiations between the EU and China on an agreement governing foreign direct investment. (E.H./transl.rt)