Top News
China will continue to buy Spanish debt
Updated: 2011-01-03 16:19
(Agencies)
In this April 30, 2010 file photo, Chinese vice premier Li Keqiang (C) visits the Spain Pavilion in the World Expo Park in Shanghai. [Photo/Xinhua] |
MADRID - Chinese officials have faith in Spain's financial system and will continue to take part in government debt auctions, China's vice premier Li Keqiang wrote in an editorial in El Pais on Monday.
"China is a responsible, long-term investor in the European financial market and particularly in Spain, and we have confidence in the Spanish financial market, which has meant the acquisition of its public debt, something which we will continue to do in the future," Li wrote.
|
Around 60 percent of demand for Spanish debt has come from non-resident investors, according to a Reuters source, and Asian interest has risen to a reported 9 percent at recent auctions.
The vice premier will begin a three-day visit to Spain on Tuesday before visiting the United Kingdom and Germany.
Li said China applauded austerity measures and structural reforms passed by Spain's Socialist government last year aimed at calming market concerns over its public deficit.
"China supports the measures adopted by Spain to readjust its economy, with a strong conviction that it will achieve general economic recovery," he wrote.
E-paper
Ear We Go
China and the world set to embrace the merciful, peaceful year of rabbit
Preview of the coming issue
Carrefour finds the going tough in China
Maid to Order
Specials
Mysteries written in blood
Historical records and Caucasian features of locals suggest link with Roman Empire.
Winning Charm
Coastal Yantai banks on little things that matter to grow
New rules to hit property market
The State Council launched a new round of measures to rein in property prices.