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EU and China seek compromise over currency and trade

China and the European Union look to be making moves to reduce tensions over currency and trade issues at the tenth annual summit in Beijing.

EU officials say that the Chinese may be moving towards a stronger exchange rate for the Yuan, something Europe has long advocated.

The ECB and the People's Bank of China are to set up a working group to examine currency issues, which have become a major source of friction.

Brussels and Beijing have also agreed to discuss ways of reducing the EU's trade deficit with China currently running at 170 billion euros.

euronews


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