Chinese Premier Wen Jiabao made an announcement on Sunday concerning the condition of global economy. He emphasized that China hopes the United States will keep its deficit to an appropriate size to ensure basic stability in the U.S. dollar exchange rate.

At a news conference in Egypt Wen said: "We have seen some signs of recovery in the U.S. economy ... I hope that as the largest economy in the world and an issuing country of a major reserve currency, the United States will effectively discharge its responsibilities.”

He explained that keeping by the United States an appropriate size to its deficit leading to the basic stability in the exchange rate will be favorable to stability and the recovery of the global economy.

In March the premier announced about his anxiety concerning the weakening of the value of China's huge U.S. bond holdings caused massive U.S. deficit spending and near-zero interest rates. China is the biggest holder of U.S. government debt and has invested an estimated 70 percent of its more than $2 trillion stockpile of foreign exchange reserves, the world's largest, in dollar assets.

Wen commented: "I follow very closely Chinese holdings of U.S. assets because that constitutes a very important part of our national wealth. Our consistent principle when it comes to foreign exchange reserves is to ensure the safety, liquidity and good value of the reserves.”