Chinese President Hu Jintao is open to discussing French President Nicolas Sarkozy's broad proposals for G20-led global financialreforms during his upcoming visit to France, a senior Chinese minister said yesterday.
France takes the chair of the G20 group of leading economies from mid-November and has made reforming the internationalmonetarysystem a focus for its year-long presidency.
Chinese Vice Foreign Minister Fu Ying would not discuss the specifics of what the two leaders may discuss, but indicated that Hu was open to hearing Sarkozy's proposals and wanted views aired at the G20 summit in Seoul next month.
"President Sarkozy and the French side, as the next chair country of the G20, have taken an active attitude and proposed these leading edge proposals for cooperation. China takes these very seriously," she told a news conference in Beijing.
"Also, I think that during the Seoul meeting China will hear other countries' views of France's proposals."
Hu will also discuss expanding aircraft and nuclear projectcooperation during his visit to France, Fu said.
European aircraft maker Airbus was in talks to sell at least 150 aircraft to China for about US$16 billion, a deal that could be sealed during Hu's visit, according to French media reports.
Hu will pay state visits to France and Portugal from November 4 to 7. His European visit will be followed by the G20 summit in Seoul from November 11 to 12.
Sarkozy has said that under France's stewardship the G20 will pursue an ambitious agenda, including combating volatility in commodities markets and improving global economic governance.
In preparation for its presidency, Paris has been for months canvassing the opinion of G20 partners on reform of the internationalmonetarysystem, French officials said.
One French official has said a key area of discussion was how to encourage greater use of China's yuan as a reserve currency in the future, including talks on a possible timetable for its inclusion in the basket of currencies which underpin the IMF's Special Drawing Rights.
Fu did not say directly whether Hu would take up that issue with Sarkozy, and indicated the discussions would unfold over the next year.
"It's good for these proposals to be raised early, so that there's a year for everyone to gradually arrive at consensus and gradually implement more viable proposals," she said.