Europe needs China investment to solve debt crisis

Updated: 2011-11-30 10:20


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BRUSSELS - Europe needs to open up further to Chinese investment which would substantially help solve the eurozone debt crisis, a senior researcher from China's top economic planning authorities said here Tuesday.

"On helping solve the eurozone debt crisis, a channel that China prefers is for Europe to let in more investment of Chinese companies," said Wang Yiming, vice president of the Academy of Macroeconomic Research, the National Development and Reform Commission (NDRC).

"Further opening up to investment from Chinese companies would help stimulate the European economy, create jobs there and boost the capabilities of eurozone countries to pay their debt," Wang said at a forum on Europe-China relations.

"What European countries really need is the capacity to form blood, rather than blood itself. So it is high time to ask whether European countries can be more open to investment from Chinese firms," the researcher said.