WASHINGTON, March 14 (Xinhua) -- U.S. President
Barack Obama assured on Saturday that China can have confidence in the American
economy after meeting with his Brazilian counterpart Luiz Inacio Lula da Silva
at the White House.
"Not just the Chinese government, but every investor
can have absolute confidence in the soundness of investments in the United
States," Obama said.
US President Barack Obama (L) speaks to
reporters in the Oval Office after meeting with Brazil's President Ignacio
'Lula' Da Silva at the White House in Washington, March 14, 2009.
(Xinhua/Reuters Photo) Photo Gallery>>>
"There is a reason why even in the midst of this
economic crisis you have seen actual increases in investment flows here in the
U.S.," he said.
Obama also noted the U.S. will push for stricter
regulation of the financial industry "front and center" at the upcoming G20
summit in London, playing down suggestions of a rift between the Europe and the
United States over whether more emphasis should be placed on stimulus or
financial regulatory reform.
Chinese Premier Wen Jiabao said earlier Friday he is
"a little bit worried" about the safety of Chinese assets in the United States,
urging the U.S. government to ensure the security of those assets.
U.S. President Barack Obama listens to
reporters in the Oval Office after meeting with Brazil's President Ignacio
'Lula' Da Silva at the White House in Washington, March 14,
2009.(Xinhua/Reuters Photo) Photo Gallery>>>
"We lent such huge fund to the United States and of
course we're concerned about the security of our assets and, to speak
truthfully, I am a little bit worried," Wen told a press conference after the
close of the annual session of the National People's Congress (NPC) and the
National Committee of the Chinese People's Political Consultative Conference
(CPPCC).
China has invested its huge foreign exchange reserves
in low-risk but low-yield assets, such as U.S. government bonds, to play it
safe.
According to the U.S. Treasury, China held 681.9
billion U.S. dollars worth of U.S. government bonds as of November.
"China is indeed the largest creditor of the United States, which is the world's biggest economy. We are extremely interested in developments in the U.S. economy," said Wen, adding that he is expecting the effect of the measures taken by the U.S. government to counter the global financial crisis.
