BEIJING (MNI) – Chinese Premier Wen Jiabao expressed his confidence
in the Hungarian economy and said China is willing to buy debt issued by
the country’s treasury.
“China has confidence in Hungary’s economy. China is willing to buy
a certain amount of Hungarian treasury debt,” the official Xinhua News
Agency quoted Wen as saying on his visit to the eastern European
country.
He also said China will provide a E1 billion loan to Hungary to
fund cooperation projects between Chinese and Hungarian companies.
Wen’s comments mark China’s latest voice of support for Europe and
European debt as its governments work to avoid default.
“China has confidence in Europe’s economy. China is a long-term
investor in Europe’s sovereign debt market,” Wen said.
China has increased its holdings of European debt in recent years
and will continue to support Europe and the euro, as it always has, Wen
said.
He also said China is studying the establishment of a cooperation
fund with eastern European countries in order to strengthen its support
of bilateral economic and trade cooperation.
Wen visited Hungary as part of a five-day tour of Europe which
includes stops in the U.K, and Germany.
beijing@marketnews.com
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