"We are never in pursuit of trade surplus. We are in pursuit of balanced and sustainable trade," Wen said.

European leaders should turn to the U.S. dollar for an explanation of the recent fluctuations in the exchange rate of the euro, he added.

The world will by no means benefit from an appreciation of the RMB by 20 percent to 40 percent -- as the U.S. has demanded -- because it will damage the Chinese economy, and the Chinese economy contributed about 50 percent of the global economic growth last year, Wen said.

"Once again, I would make it clear to our friends from the business community, out of frankness and friendliness, don't pressure China on RMB appreciation," Wen said. "We will stick fast to the exchange rate reform. We will gradually allow more flexibility in RMB exchange rate."

Wen assured European investors of a good investment environment in China, saying China would stick to its reform and opening up policies.

The only change would be a more standardized and orderly administration over foreign investment and the investment environment in China, Wen said.

Foreign businesses operating in China will enjoy the same national treatment as Chinese enterprises do on issues related to intellectual property, independent innovation, and government procurement, he said.
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