Wen repeats pledge to help Europe over debt
Source: Agencies |
February 15, 2012, Wednesday
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Print Edition
Print Edition
China is ready to help resolve Europe's debt crisis, Premier Wen Jiabao said yesterday, but he gave no details a day after the nation's sovereign wealth fund ducked calls by German Chancellor Angela Merkel for it to buy European government bonds.
At a Beijing summit delayed from late last year while European leaders grappled for solutions to the two-year-old crisis, Wen reiterated supportive sentiments.
"China is ready to increase its participation in resolving the European debt problems. We are willing to conduct close communication and cooperation with the EU side," Wen said.
Speaking at a news conference at the Great Hall of the People with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, Wen added: "We match our words with actions."
On Monday, the head of China's US$410 billion sovereign wealth fund said Merkel had asked it and other long-term investors to buy European government debt when she visited Beijing earlier this month, but such investments were "difficult" for long-term investors. Lou Jiwei, chairman of China Investment Corp, said any fresh injection of funds into Europe would be in industrial and other real assets, not government bonds.
Van Rompuy, pursuing the eurozone's long-running efforts to win China's financial help, said yesterday: "Investors in Europe can be reassured that we have not just navigated a difficult bend, we have turned a corner."
China welcomes European enterprises to invest in the Chinese market, Wen said, noting that China will continue to expand market access for EU enterprises, improve laws and regulations on foreign investments, enhance intellectual property rights protection, and optimize the investment environment.
He also called on the EU side to maintain market openness and facilitate project examination and approval procedures, personnel exchanges, policy consulting and information exchanges.
Barroso stressed the importance of creating a fair and open competition environment for both sides' businesses.
Van Rompuy insisted that eurozone economic fundamentals were sound, but acknowledged more was needed to secure recovery. "We recognize that financial stability is a necessary but not a sufficient condition for economic recovery. We must do more, in particular on economic growth and on unemployment," he said.
The summit came after rating agency Moody's downgraded its credit ratings on Italy, Portugal and Spain.
On global affairs, Wen said the most urgent issue in Syria was to "prevent war and chaos so that the Syrian people will be free from even greater suffering."
He added: "To achieve this objective, China supports efforts consistent with the UN charter and principles and we are ready to strengthen communication with all parties in Syria and the international community and continue to play a constructive role. China will absolutely not protect any party, including the government of Syria."
Van Rompuy said the two sides also discussed human rights but gave no details.
At a Beijing summit delayed from late last year while European leaders grappled for solutions to the two-year-old crisis, Wen reiterated supportive sentiments.
"China is ready to increase its participation in resolving the European debt problems. We are willing to conduct close communication and cooperation with the EU side," Wen said.
Speaking at a news conference at the Great Hall of the People with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, Wen added: "We match our words with actions."
On Monday, the head of China's US$410 billion sovereign wealth fund said Merkel had asked it and other long-term investors to buy European government debt when she visited Beijing earlier this month, but such investments were "difficult" for long-term investors. Lou Jiwei, chairman of China Investment Corp, said any fresh injection of funds into Europe would be in industrial and other real assets, not government bonds.
Van Rompuy, pursuing the eurozone's long-running efforts to win China's financial help, said yesterday: "Investors in Europe can be reassured that we have not just navigated a difficult bend, we have turned a corner."
China welcomes European enterprises to invest in the Chinese market, Wen said, noting that China will continue to expand market access for EU enterprises, improve laws and regulations on foreign investments, enhance intellectual property rights protection, and optimize the investment environment.
He also called on the EU side to maintain market openness and facilitate project examination and approval procedures, personnel exchanges, policy consulting and information exchanges.
Barroso stressed the importance of creating a fair and open competition environment for both sides' businesses.
Van Rompuy insisted that eurozone economic fundamentals were sound, but acknowledged more was needed to secure recovery. "We recognize that financial stability is a necessary but not a sufficient condition for economic recovery. We must do more, in particular on economic growth and on unemployment," he said.
The summit came after rating agency Moody's downgraded its credit ratings on Italy, Portugal and Spain.
On global affairs, Wen said the most urgent issue in Syria was to "prevent war and chaos so that the Syrian people will be free from even greater suffering."
He added: "To achieve this objective, China supports efforts consistent with the UN charter and principles and we are ready to strengthen communication with all parties in Syria and the international community and continue to play a constructive role. China will absolutely not protect any party, including the government of Syria."
Van Rompuy said the two sides also discussed human rights but gave no details.
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