Eurozone countries and the IMF agreed early this month to jointly provide 110 billion euros (137 billion U.S. dollars) in three years to aid debt-laden Greece. Only one week later, a larger rescue package worth 750 billion euros (937 billion U.S. dollars) was hammered out in order to prevent the Greek debt crisis from spreading in the eurozone.
Chen said China will do its part in the largest-ever rescue efforts.
"China is a member of the IMF and therefore it will assume its due responsibilities when it comes to the rescue package," he said.
Chen said the eurozone debt crisis again highlighted fragility of the global economic recovery and against this background, it remains too early for China to phase out fiscal stimulus measures.
"There are still a lot of uncertainties in the world economy. Therefore we believe it is too early for us to talk about an exit strategy from our stimulus package," he said. "The Chinese government will continue to implement a proactive fiscal policy and a moderately easy monetary policy."
Chen also called on world governments to remain alert to trade protectionism for the sake of a global recovery.
"There is still uncertainties and tough way ahead. As the world is going through an economic recovery, countries across the world need to make concerted efforts to stand against protectionism and support liberalization of trade and investment," he said.
As for China, Chen said Beijing will continue the policy of stabilizing its own exports and promoting imports, which he hoped would help eurozone countries emerge from the debt crisis.
Related:
Chinese commerce minister says too early to exit fiscal stimulus
BRUSSELS, May 21 (Xinhua) -- It remains too early for China to carry out an exit strategy by phasing out fiscal stimulus, Chinese Minister of Commerce Chen Deming said here on Friday.
"There are still a lot of uncertainties in the world economy. Therefore we believe it is too early for us to talk about an exit strategy from our stimulus package," Chen told reporters after a meeting with European Union (EU) Trade Commissioner Karel De Gucht. Full story
China commerce minister cautious on export recovery
GUANGZHOU, April 23 (Xinhua) -- Chinese Commerce Minister Chen Deming Friday said he remained cautious about growth of exports this year as recovery in demand for China-made goods in the United States and Europe was still very slow.
Chen made the remarks in an exclusive interview with Xinhua in a tour to the 107th China Import and Export Fair, or Canton Fair, in Guangzhou, capital of southern Guangdong province. Full story
Yuan appreciation cannot redress U.S.-China trade imbalance: commerce minister
BEIJING, March 30 (Xinhua) -- The United States' controls on exports to China have exacerbated the bilateral trade imbalance, and yuan appreciation will not solve the problem, China's Commerce Minister Chen Deming said Tuesday.
Chen was commenting on the yuan exchange rate issue for the second time since U.S. lawmakers called on the Obama administration to step up pressure on China to let yuan strengthen. Full story
