China commits to invest in eurozone bailout funds

China has pledged to help resolve the eurozone debt crisis by investing in European bailout funds and continuing to hold euro assets.

Zhou Xiaochuan, governor of the People’s Bank of China, said in a speech in Beijing that China “will always adhere to the principle of holding assets of EU sovereign debt,” according to Bloomberg.

The comments came as Chinese premier Wen Jiabao (pictured) said the country would get “more deeply” involved in helping Europe resolve the crisis.

Doubts have been raised as to the extent of China’s willingness to help bail out troubled eurozone nations, but Wen said China has a “sincere and firm” desire to support Europe in coping with its sovereign debt problems.

“We are in firm support of all the measures taken by the European Central Bank in order to promote the development of the European nations,” Zhou said.

“China will always adhere to the principle of holding assets of EU sovereign debts for example through the IMF or EFSF.”

 

This article was first published in Investment Week

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