China offers financial backing to EU
2010-12-23 17:48:35
China is ready to help the European Union through its debt crisis, the communist state's Foreign Ministry said on Thursday.
"We are ready to support the EU to overcome the financial crisis and realize economic recovery," Foreign Ministry spokeswoman Jiang Yu said.
The EU would become "a major market" for China's foreign exchange investments, she added.
There has been speculation that Spain and Portugal may ask for financial assistance, following the joint EU and International Monetary Fund (IMF) bail-out of Greece and the Irish Republic earlier this year.
Chinese Vice-Premier Wang Qishan vowed to back the EU in discussions with European officials earlier this week, the Financial Times reported on Wednesday.