Chinese and EU leaders meet to discuss bailout funding

Chinese and EU leaders will meet today for a major summit set to be dominated by Europe's debt crisis.

Europe's worsening financial crisis has contributed to a slowdown in the rate of economic growth in China, leading to fresh hopes that China may invest in a bailout fund for debt-stricken EU states.

Chinese Premier Wen Jiabao will hold talks with EU president Herman Van Rompuy and European Commission president Jose Manuel Barroso.

Concerns over Europe's economy and financial sector are expected to dominate the talks, but they are likely to discuss Syria, Iran and a controversial EU carbon charge on airlines also.

It comes after the ratings agency Moody's last night downgraded the credit ratings of six eurozone countries.