On January 8, 2012 at Renmin University of China Pierre Moscovici, the Finance Minister of France purported that the European Central Bank’s unlimited sovereign bond buying program would achieve “growth, recovery and solidarity.”

The event was hosted by Chen Yulu, President of Renmin University of China (RUC). RUC Vice-President Yi Zhihong, accompanied by other professors and scholars, sat in attendance alongside Sylvie Bernmann, the French Ambassador to China, and representatives of the French Embassy and Ministry of Finance.

Minister Moscovici assured that the Eurozone agreement on integrated banking supervision would enable the currency bloc, and each of its member states, to emerge from the crisis with a stronger condition. Minister Moscovici said that France’s trade deficit with China, worth 27 billion Euros, signified the importance of their continued improvements in bilateral relations.

While in Beijing, Minister Moscovici also met with China’s Vice-Premier Li Keqiang, and Lou Jiwei, the head of China Investment Corporation to quell concerns about the Euro.

Renmin University professors and graduate students questioned the Minister on France’s credit rating and trade disputes with China. One of Renmin University’s French foreign exchange students asked Minister Moscovici about his government’s intentions to support small and medium sized enterprises; the Minister said that favorable tax rates and hiring incentives could help stimulate growth in this sector.