Wen: China will support Europe in debt trouble
Source: Agencies/Shanghai Daily |
June 26, 2011, Sunday
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Print Edition
Print Edition
Premier Wen Jiabao yesterday offered his country's support for Europe and its common currency amid the eurozone's debt crisis.
Wen said China is a long-term investor in the European sovereign debt market and has purchased a "not small" amount of euro-denominated bonds in the past years.
"China will consistently support Europe and the euro," Wen said after a meeting with Hungarian Prime Minister Viktor Orban.
Wen is on a five-day tour that takes him to Hungary, Britain and Germany, just as Europe hammers out a plan to battle the eurozone debt crisis.
"Europe's debt crisis is expanding," Wen said. "Trust is more important than currency and gold and now, during the debt crisis, we again bring trust to Europe."
"I have total trust in Europe's economic development," Wen said.
Wen also said China would be willing to purchase Hungarian bonds - the country does not yet use the euro - and offered Hungary a loan of 1 billion euros (US$1.4 billion).
For years Hungary has been striving to attract more Chinese investment and hopes China will make use of Hungary's infrastructure and the advantages of its geographical location in Central Europe as a hub for its expanding business ventures on the rest of the continent.
Orban said Hungary and China signed a dozen agreements expanding their business and cultural ties, including plans for Chinese investments of US$1 billion in Hungary's chemicals industry.
"Facing the complicated international situation, China is ready to strengthen high-level exchanges and consultations on various levels with Hungary, jointly cope with challenges and inject more vitality into the development of bilateral ties," Wen said.
The Chinese government would support companies to participate in the construction of Hungary's infrastructure, industrial parks and logistics centers, and to import Hungary's competitive products, he said.
The premier also invited 150 young Hungarians to visit China and promised to speed up the establishment of cultural centers in both countries.
Wen arrived in Britain later yesterday where he will meet with Prime Minister David Cameron.
He will end his European visit in Berlin, where he is expected to discuss Europe's debt crisis with German Chancellor Angela Merkel tomorrow.
Wen has voiced China's willingness to prop up the region's struggling economies, pledging to buy an unspecified amount of Greek government bonds during a visit to the debt-ridden country in October.
Wen said China is a long-term investor in the European sovereign debt market and has purchased a "not small" amount of euro-denominated bonds in the past years.
"China will consistently support Europe and the euro," Wen said after a meeting with Hungarian Prime Minister Viktor Orban.
Wen is on a five-day tour that takes him to Hungary, Britain and Germany, just as Europe hammers out a plan to battle the eurozone debt crisis.
"Europe's debt crisis is expanding," Wen said. "Trust is more important than currency and gold and now, during the debt crisis, we again bring trust to Europe."
"I have total trust in Europe's economic development," Wen said.
Wen also said China would be willing to purchase Hungarian bonds - the country does not yet use the euro - and offered Hungary a loan of 1 billion euros (US$1.4 billion).
For years Hungary has been striving to attract more Chinese investment and hopes China will make use of Hungary's infrastructure and the advantages of its geographical location in Central Europe as a hub for its expanding business ventures on the rest of the continent.
Orban said Hungary and China signed a dozen agreements expanding their business and cultural ties, including plans for Chinese investments of US$1 billion in Hungary's chemicals industry.
"Facing the complicated international situation, China is ready to strengthen high-level exchanges and consultations on various levels with Hungary, jointly cope with challenges and inject more vitality into the development of bilateral ties," Wen said.
The Chinese government would support companies to participate in the construction of Hungary's infrastructure, industrial parks and logistics centers, and to import Hungary's competitive products, he said.
The premier also invited 150 young Hungarians to visit China and promised to speed up the establishment of cultural centers in both countries.
Wen arrived in Britain later yesterday where he will meet with Prime Minister David Cameron.
He will end his European visit in Berlin, where he is expected to discuss Europe's debt crisis with German Chancellor Angela Merkel tomorrow.
Wen has voiced China's willingness to prop up the region's struggling economies, pledging to buy an unspecified amount of Greek government bonds during a visit to the debt-ridden country in October.
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