Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Virunga Park chief shot

Read more

MEDIAWATCH

Algerian election: Bouteflika votes in wheelchair

Read more

MEDIAWATCH

Algeria's media: a mixture of censorship and free speech

Read more

DEBATE

Algeria: What's the Choice? Incumbent Bouteflika Votes in Wheelchair

Read more

WEB NEWS

Nigerian web users call for end to violence

Read more

FOCUS

Bitcoin in the US: A monetary revolution?

Read more

ENCORE!

Fast cars and slow trains

Read more

WEB NEWS

Chile: online mobilization to help Valparaiso fire victims

Read more

FACE-OFF

François Hollande: France's most unpopular president

Read more

  • With a strong French presence, veterans and fresh faces, Cannes aims to please

    Read more

  • Russia and West agree on steps to ease Ukraine crisis

    Read more

  • Nobel-winning Colombian writer Gabriel Garcia Marquez dies at 87

    Read more

  • Low turnout in Algerian election tipped to return Bouteflika

    Read more

  • French troops free five aid workers kidnapped in Mali by Islamists

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

  • After cup defeat, Spanish pundits read last rites for Barcelona

    Read more

  • Frantic search for survivors of sunken South Korea ferry

    Read more

  • India heads to polls in single largest day of voting

    Read more

  • Ukraine talks open in Geneva as Putin talks tough on TV

    Read more

  • Pro-Russian separatists killed in attack on Black Sea base

    Read more

  • Man executed in Texas for 2002 triple murder

    Read more

  • Scandal-hit French doctor Jacques Servier dies at 92

    Read more

  • Belgian head of wildlife reserve shot in DR Congo

    Read more

  • Crunch talks on Ukraine begin in Geneva

    Read more

  • Stagehand of God? Maradona's legendary goal inspires a play

    Read more

  • US rolls out red carpet for French critic of capitalism

    Read more

  • N. Korea not amused by London hair salon's Kim Jong-un ad

    Read more

  • Real Madrid beat old foes Barcelona to lift Copa del Rey

    Read more

  • France's new PM targets welfare in drive to cut spending

    Read more

  • Campaigning against Bouteflika's re-election... in France

    Read more

  • Brazil club Mineiro cancel Anelka signing after no-show

    Read more

  • Syria 'torture' photos silence UN Security Council members

    Read more

  • Paris laboratory loses deadly SARS virus samples

    Read more

  • More than 100 schoolgirls kidnapped in northeast Nigeria

    Read more

Asia-pacific

China still willing to invest in Europe, premier says

©

Text by News Wires

Latest update : 2011-09-14

Chinese Prime Minister Wen Jiabao said Wednesday that his country is still willing to invest in Europe despite its faltering economy, but said he wants assurances that eurozone nations are serious about tackling their debt crises.

REUTERS - China remains willing to invest in Europe but wants rich economies to show they are serious about tackling debt, Premier Wen Jiabao said on Wednesday, sending the troubled euro zone a mix of reassurances and demands from the world’s biggest foreign exchange holder.

Wen gave China’s highest-level public comment yet to Europe’s recent spiralling economic problems, and while he avoided specifics about debt purchases, he stuck to his past view that the euro zone can surmount its deepening woes.
 
“China believes that Europe will be able to resolve its problems”, Wen told officials and executives gathered at the World Economic Forum’s summer session in the northeast Chinese port city of Dalian.
 
“European countries are facing sovereign debt problems.  We’ve said countless times that China is willing to give a helping hand, and we’ll continue to invest there.”
 
Although Wen’s vote of confidence may help steady markets, the Chinese leader also made it plain that Beijing, sitting on some $3.2 trillion in foreign reserves, is concerned about the deteriorating ability of Greece, Italy and other European economies to repay their sovereign debts.
 
He also suggested China wants the European Union to reciprocate Beijing’s help by moving to grant China “market economy” status, which would lower its exposure in trade anti-dumping cases.
 
“The governments of all countries must truly shoulder their responsibilities and deal properly with their own affairs,” Wen said in an opening speech, which did not single out any nations by name in the comments on the debt crisis.
 
“The major developed economies must adopt fiscal and monetary policies that are responsible and effective, and appropriately deal with debt problems, ensuring the secure and stable operation of investment markets,” said Wen.
 
Analysts estimate that China has about a quarter of its foreign currency reserves held in euro assets.
 
“We hope major European leaders will take a bold step in their perception of China,” Wen said in a question-and-answer session. “For example, they should recognize China as a market economy.”
 
Beijing has repeatedly pressed the European Union to give it that status. But the European bloc has not reached agreement on that demand, and its officials have told China that it must meet a set of technical criteria before winning market status.
 
The Financial Times reported on Monday that Italy had asked Beijing to buy “substantial quantities” of its debt. But a ministerial source told Reuters that recent talks between Italy and China centred on possible investments in Italy’s industrial sector, not the purchase of government bonds.

 

Date created : 2011-09-14

  • BANKING

    Moody's downgrades Crédit Agricole, Société Générale

    Read more

  • EUROZONE

    Merkel strives to allay fears over Greek debt crisis

    Read more

  • MARKETS

    European markets slide on fears of Greek debt default

    Read more

Comments

COMMENT(S)