China is prepared to buy more EU government bonds amid a worsening European debt crisis that is dragging on the world economy, Premier Wen Jiabao said, in the strongest sign of support for its biggest trading partner in months.
The debt crisis, which has dented demand for Chinese exports and dragged China into its worst downturn in three years, was the primary focus of talks between Wen and German Chancellor Angela Merkel who arrived in Beijing on Thursday.
The pair also concluded a flurry of business agreements, including a deal by China to buy 50 Airbus (EAD.PA) worth $3.5 billion, and multi-million-dollar investment deals involving Volkswagen AG (VOWG.DE) and Chinese telecoms equipment maker ZTE 000063.SZ.
Wen said Beijing is willing to continue supporting the debt-stricken euro zone, and will step up talks with the European Union, the European Central Bank and the International Monetary Fund -- also known as the troika -- to help struggling EU nations.
"China is willing, on condition of fully evaluating the risks, to continue to invest in the euro zone sovereign debt market, and strengthen communication and discussion with the European Union, the European Central Bank the IMF and other key countries to support the indebted euro zone countries in overcoming hardships," he said after meeting Merkel.
Wen, who did not elaborate, said he remained worried about the crisis in the euro zone.
Read more: http://www.reuters.com/article/2012/08/30/us-china-europe-idUSBRE87T0BY20120830
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