China Still Continues Investment In European Debt Market


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June 29, 2011



According to European financial crisis, Chinese Premier, Mr. Wen Jiabao, has visited Hungary last week to meet Hungarian Prime Minister, Mr. Viktor Orban, to sign twelve bilateral agreements.

At the press conference, Wen Jiabao said he was still confidence in European economic development, and believed Europe can overcome the debt crisis.




Wen Jiabao said we would remain a long-term investor in Europe's debt market that China had already increased big margin holdings of euro bonds, and we would work for expeditious recovery and stable growth.

He did not mention the exactly amount of debt in Europe or even Hungary that China was willing to purchase; however, he informed that China aimed to encourage bilateral trade to $20 billion within year 2015.

In addition, he said a loan of 1 billion Euros would be provided by China's state development bank for fund development projects between Hungary and China.

The Hungarian Prime Minister also added the purchase of Hungarian government bonds by China would increase the security of Hungary’s financing; besides, in case China further purchased the bonds, it would bring huge security.

China nowadays has large holdings of euro-denominated assets of $3.05 trillion foreign reserves and is trying to preserve the value of its holdings. Moreover, China is also exploring greater trade ties with the country and increasing role as a logistics and trade processing centre in Eastern Europe for Chinese goods.



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