China Central Bank Chief Affirms Support for Euro Zone

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China Central Bank Chief Affirms Support for Euro Zone

Reuters | June 04, 2012 | 01:13 AM EDT

China's central bank chief said the country will continue to invest in euro zone government debt and other assets and urged the single-currency bloc to step up reforms to stem its debt crisis.

Zhou Xiaochuan said in comments published on Monday with Chinese Business News that China will continue to buy euro zone government bonds, support International Monetary Fund (IMF) engagement and invest in infrastructure and privatization programs.

"Certainty, the pre-condition is that we can see reforms in theses countries and such investment can be recovered," Zhou said.

But Zhou said the central bank had no intention to rapidly increase the country's foreign exchange reserves, already the world's largest at $3.3 trillion.

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