China says willing to help euro zone return to health
BEIJING: China is willing to help countries in the euro zone return to economic health and will support the International Monetary Fund element of a bailout package for the bloc, a Chinese Foreign Ministry spokeswoman said on Thursday.
Foreign Ministry spokeswoman Jiang Yu also told a regular news conference in Beijing that the euro zone was one of the most important areas for China's foreign exchange investments, following reports that Beijing could step in to shore up European finances.
The euro steadied against the dollar and the Swiss franc, helped by the comments, although analysts said the outlook for the single currency was shaky, with fresh losses expected into 2011. The Financial Times reported on Wednesday that China had offered to take more "concerted action" to support European financial stabilization. It cited unnamed senior European officials after talks with Chinese Vice Premier Wang Qishan. Portuguese officials have said the government is trying to diversify its debt investor base, with China as a priority. -Reuters