China supports efforts by the EU and the International Monetary Fund to calm global markets in the wake of Europe's debt crisis but is keen to see more results from the measures, Vice Premier Wang Qishan said on Tuesday.
"China supports the slew of measures by EU and IMF to stabilise financial markets, and China has taken concrete actions to help some European countries deal with their sovereign debt crisis," Wang told visiting EU trade and economic officials.
"The EU has taken active measures to deal with the debt crisis, and we hope the measures can achieve some results as soon as possible," he added. China, which holds an undisclosed proportion of its $2.65 trillion in official reserves in euro assets, has repeatedly expressed its support for the single currency.
Wang said the global economic recovery was hampered by weak demand, and that world financial markets were awash in excessive liquidity and faced an uncertain outlook. Wang reiterated China would implement a prudent monetary policy to ensure the world's second-largest economy can continue to grow at a rapid clip and at a sustainable pace. He said China hopes Europe can lift restrictions on hi-tech exports to China.
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