Klaus Regling, Director General for Economic and Financial Affairs of the European Commission and a senior financial expert, paid a 4-day visit to China recently.

One of the major objectives of Mr. Regling's visit to China is to exchange information and views on the key question of establishing a dialogue mechanism on macro-economic issues between China and Europe.

Regling said the European Union and China are both important components of the world economy. Through this visit the both sides have increased understanding of each other on many issues. He said "through visits to Beijing, Shanghai and the neighboring regions, after talks with the Chinese government officials and those in the business circles my first impression is the Chinese government's macro-controls are taking effect. Economic overheating trend has been contained to certain extent. China's objective of economic soft landing looks hopeful. For China a "soft landing" means an economic growth at least 7 percent, which is probably different from other countries". Macro-control measures usually take a long time to take effect, he said. For now some small and medium firms in the real estate industry receive much of the brunt. In some European countries similar macro-control policies also had certain impact on small and medium firms. But they all recovered after a period of readjustment.

When asked about the impact of enhanced economic cooperation in East Asia on the European Union Regling said regional economic cooperation in East Asia means more opportunities than challenges. Enhanced economic and trade cooperation among East Asian countries will promote the growth of trade volume within the region, boost the economic development in East Asia and make the region richer, which is good for the world as a whole.

By People's Daily Online