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China and Italy boost trade ties

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China and Italy boost trade ties


China’s prime minister has signed a raft of economic partnerships with Italy a day after fending off pressure from Brussels to increase the value of the yuan.

Wen Jiabao and Italian prime minister Silvio Berlusconi agreed to more than double their 28 billion euro trade turnover to 72 billion by 2015. They signed a total of ten economic and commercial agreements.

Wen is on a week-long trip to Europe. Yesterday in Brussels, he told EU leaders to stop pressuring China to revalue its currency. They say it is unrealistically weak and causing a huge trade imbalance with the West. But Wen warned such a move would lead to social unrest in China.

Wen is expected to arrive in Turkey on Friday to discuss a range of bilateral relations, from culture and transport to energy and health.

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