Belfast Telegraph

China offers to help stabilise Europe

Chinese Premier Wen Jiabao - who is to visit the Republic this week - has offered co-operation to help stabilise debt-ridden EU countries.

But he made no specific promise to invest in a bailout fund.

EU leaders have been seeking Chinese money to help bolster a planned fund of half a trillion.

Europe is China's biggest trading partner, with trade worth €560bn flowing between the two last year.

Troubled Europe has long sought Chinese investment in its bailout fund.

In a joint news conference with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, Mr Wen - tipped to become China's supreme leader - said China was willing to "increase its involvement" in attempts to stabilise the eurozone.

"China is firm in supporting the EU side in dealing with the debt problems. We match our words with our actions," he said.

"We are willing to conduct close communication and co-operation with the EU side."