China to buy 6b euros of Spanish debt

09:19, January 07, 2011      

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Chinese Vice Premier Li Keqiang has said Beijing is willing to buy about 6 billion euros ($7.9 billion) of Spain's public debt, Spanish newspaper El País reported Thursday, citing government sources.

Li said China was willing to buy as much Spanish public debt as its Greek and Portuguese debt holdings combined, the sources told El País, adding that this would add up to around 6 billion euros in Spanish government bonds.

The newspaper was unable to confirm the figure with Li, and the Spanish government declined to comment.
China has been increasing its holdings of European government debt, including that from Spain, Chinese Vice Commerce Minister Gao Hucheng said in a statement on the ministry's website.

Li left Madrid Thursday after a three-day visit, bound for Germany until Sunday and then to Britain until Wednesday.

Source: Global Times
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