Premier Wen confident about EU development

TIANJIN -- Premier Wen Jiabao said at the 2012 Summer Davos Forum on Tuesday that he is confident about the eurozone's development despite concerns over the region's debt crisis.

"Europe should find a balance between promoting economic growth and implementing fiscal austerity measures, and I believe Europe will find it," Wen said while meeting entrepreneurs on the sidelines of the event, which is being held in North China's port city of Tianjin.

The difficulties facing the European Union will be temporary due to the region's relatively strong economy, numerous tech talents and advanced management experience, the premier said, adding that China and the EU should band together to deal with the current economic woes.

China's exports to the EU, its largest trading partner, dropped 1.9 percent year-on-year to $365.05 billion in the first eight months of the year, official data showed.