Beijing - Leaders of Asian and European Union nations arrived in China on Thursday ahead of a summit that is expected to be dominated by the global financial crisis.

European Commission President Jose Manuel Barroso arrived in Beijing late Thursday morning, while Indonesian President Susilo Bambang Yudhoyono and Finnish President Tarja Halonen were among several leaders who held bilateral meetings with Chinese President Hu Jintao earlier on Thursday.

The largest ever gathering of Asian and European leaders takes place on Friday and Saturday with 27 European and 16 Asian nations represented.

The seventh biannual Asia-Europe Meeting (ASEM) was originally planned to focus on efforts to combat climate change and promote sustainable development, but it is now dominated by the global financial turmoil.

"In face of global financial crisis, all nations in the world should make concerted efforts," Chinese Vice President Xi Jinping said in a speech at a pre-summit Asia-Europe business forum on Wednesday.

"The countries should seek stronger financial dialogue and coordination, explore new areas for cooperation and promote the reform of international financial institutions so as to withstand the financial risks," said Xi, who is expected to succeed Hu as China's leader in 2012.

Xi said supervision of financial institutions and the setting up of a financial warning mechanism were "crucial" elements of global financial cooperation.

This year's ASEM summit includes several new members, notably India and Pakistan, meaning the delegates represent a combined 50-60 per cent of the global population and economy. (dpa)