China says will­ing to help euro zone re­turn to health

The Pak Banker - - International -

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

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