Chinese Premier Wen Jiabao (R) meets with Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker in Nanjing, capital of east China's Jiangsu province on Sunday, November 29, 2009. [Photo: Xinhua]

Related: Chinese Premier Meets European Commission President

Chinese Premier Wen Jiabao met in Nanjing with a trio of European Union (EU) financial chiefs Sunday ahead of the 12th China-EU summit.

Wen held talks with Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and EU Economic and Monetary Affairs Commissioner Joaquin Almunia.

"The meeting with Euro Group leaders constitutes an important part of dialogue mechanism between China and the EU. Such a mechanism was established the year before last year, demonstrating the further growth of Sino-EU relations," said Wen.

Earlier Sunday, the European leaders held consultations with senior officials of China's National Development and Reform Commission, the People's Bank of China and the Finance Ministry.

The yuan exchange rate was one of the major issues in the agenda of the upcoming China-EU Summit, as the EU business community had urged China to allow the RMB, the Chinese currency, to appreciate faster.

"We will give play to the fundamental role of market supply and demand in setting the yuan exchange rate, and keep it basically stable around reasonable, balanced levels," China's Vice Foreign Minister Zhang Zhijun told a press conference earlier.

The 12th China-EU summit is due to be held on Monday in Nanjing, capital of east China's Jiangsu province. China and the EU will exchange views on the growth of Sino-EU relations, and major global issues, including economic recovery and climate change.