Wen Jiabao, the Chinese premier, argued that a stable yuan was crucial to the global recovery and labeled calls for renminbi appreciation hypocritical at the closing ceremony of the 12th EU-China Summit, held in Nanjing on Sunday.

"Some countries are now calling for yuan appreciation while imposing trade protectionism on China, which is unfair and actually limits China's development," he said in closing remarks at the summit, where Europe was represented by Fredrik Reinfeldt, the Swedish Prime