Berlin - China called Monday on the US to step up moves aimed at dealing with the consequences of the world financial crisis. "We need help from everyone to cope with the financial crisis," said Chinese Trade Minister Chen Deming in Berlin following a meeting with German Economics and Technology Minister Michael Glos.
But Chen called on the US to take more action to deal with the crisis that was triggered by a meltdown in the US mortgage market with the Chinese Trade Minister saying every nation needed to implement its own measures.
The meeting, which formed part of the regular economic consultations between Beijing and Berlin, came in the buildup to this week's summit in Washington of the world's 20 biggest economies called to discuss the world financial crisis.
Chen's visit to Berlin also followed Beijing's announcement Monday of a 4 trillion yuan (586 billion dollars) plan to bolster growth in the country and as consequence to help counter a slump in exports as the world economy slows.
The stimulus plan, said Chen, would help to boost both incomes in China and private consumption.
The Chinese Trade Minister said that both Beijing and Berlin agreed that closer economic relations would contribute to the stabilization of the world economy.
China along with India, Brazil and Saudi Arabia is to be among the key emerging powers represented at the Washington meeting of the Group of 20 which also includes world's leading industrial nations such as Britain, France, Germany, Italy, Canada and the US.
For his part, Glos said that the considerable currency reserves held by emerging economies meant they had a special role to play in facing up to the financial crisis, which has sent share markets into a tailspin and pushed the world economy to the brink of recession.
The German Economics Minister said that both China and Germany agreed that action needed to be taken to help alleviate the economic downturn that was now underway around the world.
In particular, Glos saw China's 4 trillion yuan action plan as helping to shore up German exports.
He also called on China to boost its investment in German companies including through Beijing's state-controlled investment funds.
