French President Nicolas Sarkozy plans to call Chinese President Hu Jintao tomorrow to discuss China contributing to a planned euro-area investment vehicle, a person familiar with the matter said. The fund is one of the options being considered by European leaders at a summit tonight to help bolster its efforts to end the debt crisis.
China will work toward bolstering global economic growth in 2013, President Hu Jintao said in a New Year’s Eve address, amid optimism that a recovery in the world’s second-biggest economy is gaining traction.
Xi Jinping replaced Hu Jintao as head of the Chinese Communist Party, ushering in the fifth generation of leaders set to run the world’s second-biggest economy over the next decade. He was also named chairman of the party’s Central Military Commission.