China to Get ‘More Involved’ in Europe Rescue, Hold Euros
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China said it will “get more involved” in supporting Europe and sustain its holdings of euro assets, spurring gains in the currency and Asian stocks on optimism the debt crisis will be overcome.
“China will always adhere to the principle of holding assets of EU sovereign debt,” People’s Bank of China Governor Zhou Xiaochuan said in Beijing today. “We would participate in resolving the euro debt crisis,” he said, echoing comments by Premier Wen Jiabao yesterday.