Economy

China urges Europe not to push China on RMB exchange rate

(Xinhua)
Updated: 2010-10-07 14:19

Chinese Premier Wen Jiabao addresses the 6th China-European Union Business Summit in Brussels, capital of Belgium, Oct. 6, 2010. [Photo/Xinhua]

Wen, a trained geologist, said China pursues sustainability in rare earth mining.

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"What we pursue is to satisfy not only the domestic demand but also the global demand of rare earth. We should not only stand from the present, but should also look forward to the future," Wen said.

There used to be an abusive exploitation of the reserves in China. What China will do is to regulate the industry, not to close it, Wen said.

"If the rare earth minerals were used up, how would the world and China deal with the problem?" he said.

Wen's visit to Brussels is part of a four-nation tour that first took him to Greece. He will also visit Italy and Turkey.