BEIJING (MNI) – China is ready to involve itself more deeply in
efforts to help Europe solve its debt crisis, Premier Wen Jiabao said
here following a meeting with EU leaders.
But neither Wen nor European Council President Herman van Rompuy,
speaking at a press conference after the meeting, offered any details on
the extent of Chinese support.
“China is sincere in its support for Europe to fight the debt
crisis. China maintains confidence in the euro. China is ready for more
involvement in helping to solve the European debt crisis,” Wen said.
Rompuy welcomed China’s readiness to step up efforts to help end
the crisis. “China has shown, in concrete ways, its interest in the
Eurozone by investing in sovereign bonds of individual countries and by
investing in European stability institutions,” he said.
“It’s up to China to make its own decision in order to contribute
to the stability of the Eurozone. We agreed to consult and cooperate in
these matters,” Rompuy added.
Rompuy also noted Chinese progress on the yuan exchange rate and
macroeconomic imbalances. Asked about granting China “market economy”
status, long a demand of Beijing’s, Rompuy noted a reference to the
issue in the joint China-EU communique, saying “it’s a clear signal that
the political will is there to tackle this problem.”
European Commission President Jose Manuel Barroso, also attending
the press conference, said the Chinese public should understand that
European integration is deepening along monetary and fiscal lines “and
in the future, [moving] towards a political union.”
–beijing@marketnews.com; +86-10-8532-5998
** Market News International, Beijing Newsroom
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