Thaindian News

Beijing, March 20 (IANS) China will be part of the global community’s efforts to provide help to deal with European debt crisis, a senior Foreign Ministry official said Tuesday.

Assistant Foreign Minister Ma Zhaoxu made the remark at a press briefing on President Hu Jintao’s upcoming tour to attend Nuclear Security and BRICS summits, as well as his visit to Cambodia, reported Xinhua.

China will continue taking part in the global community’s support to Europe through the groups like G20 and International Monetary Fund (IMF), Ma said.

Ma said China’s stance on the European debt crisis was clear. China has been giving the European countries political support, and repeatedly said the country believes Europe has the ability and wisdom in coping with the crisis.

He said the BRICS countries have been keeping in close communication and coordination. The leaders of the five countries held a meeting before the Cannes G20 summit last November, where all sides agreed to bring the IMF into full play in coping with the European debt crisis.

All sides acknowledged that IMF should complete the scheme of 2010 share reform and realize increasing resources, Ma said.

Ma said the increased resources should not be only applied in aiding Europe, but also helping emerging markets and developing countries deal with difficulties.

At the fourth BRICS Summit slated for March 28 to 29 in New Delhi, Ma said President Hu will elaborate on China’s position on global governance, sustainable development, and cooperation among BRICS countries at the summit, which features the theme of BRICS countries’ commitment to the partnership of stability, security and prosperity.

Ma said BRICS countries held that the World Bank members should strictly follow the process decided by the bank on selecting its chief, and pay fully attention to the willingness and concerns of emerging markets and developing countries.

The BRICS countries are maintainingh close contact on selecting the World Bank chief, Ma said.

The Washington-based World Bank Group will pick a new chief in April this year to replace Robert Zoellick.

As the G20 summit in London had decided that the selection of heads of global financial organizations should follow the principle of openness, transparency and merit, the BRICS countries held that every World Bank members should concretely carry out the decision, Ma said.

BRICS is a bloc bringing together the five major emerging economies of China, Brazil, Russia, India and South Africa.