China has offered support to the eurozone to help it through the debt crisis that has gripped the region.
The country's foreign ministry spokeswoman, Jiang Yu, said: "We are ready to support the eurozone to overcome the financial crisis and realise economic recovery." She added the eurozone would become "a major market" for China's foreign exchange investments, according to the BBC. China has massive reserves of foreign currency, predominantly in US dollars. Jiang's comments suggest that the country will buy more euros in the future. Earlier this week, China's vice-premier Wang Qishan said he supported the efforts of both the IMF and EU in providing assistance to struggling eurozone...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
