Latest update: 25/08/2011
Eurozone debt dominates France-China talks
China is concerned about the impact of the Eurozone’s debt crisis but maintains confidence in the Euro, Chinese President Hu Jintao told French President Nicolas Sarkozy during an official visit Thursday.
By NEWS WIRES (text)
REUTERS - China is concerned about the European debt crisis and hopes that Europe to take measures to protect China's investments there, Chinese President Hu Jintao told the visiting French Nicolas Sarkozy on Thursday.
Hu also told Sarkozy that China hopes the European economy can maintain stability, and China has confidence in the European economy and the euro, Chinese television reported.
"China is concerned about the impact of the Euro debt crisis, and hopes that the European economy can maintain stability, and hopes that the countries concerned can achieve success in their financial reforms," said Hu.
"China has confidence in the European economy and the euro, and we are sure that Europe has the wisdom and ability to surmount its current hardships and maintain economic stability and growth.
"China will continue making Europe one of its principle investment markets, and we hope that Europe will take measures to ensure the security of Chinese investments there."
With about a quarter of China's record foreign currency reserves of more than $3 trillion held in euro assets, Beijing has been unsettled by the threat to the euro, even as Chinese leaders have said they believe Europe can surmount its woes.
Along with Germany, France has resisted calls from other countries in the euro zone to expand the zone's 440 billion euro bailout fund and introduce joint issuance of bonds by countries in the bloc as ways to address the crisis.