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China not out to purchase Europe: Wen

By Ding Qingfen (China Daily)

10:59, February 04, 2012

German Chancellor Angela Merkel and Chinese Premier Wen Jiabao (R) pose in front of a model of a tunnelling system during their visit to a plant of the Herrenknecht Tunnelling Equipment company in Guangzhou Feb 3, 2012. (Photo/Agencies)

GUANGZHOU - Premier Wen Jiabao said on Friday that China has neither the intention nor the ability to buy up Europe, answering concerns over the country's increasing investment in debt-stricken eurozone economies.

China is "willing to cooperate with Europe to fight the current crisis. Some people say this means China wants to buy Europe", the premier told a business forum in the southern city of Guangzhou.

Such a worry is unnecessary, although the nation encourages its companies to invest in the region, he said.

"This isn't a concern and doesn't fit reality. China doesn't have this intention and doesn't have this ability."

Wen stressed that China's investments in European nations are only at the fledgling stage, and China's investment creates benefits for both sides.

"If we join hands to combat the financial crisis and the debt woes, all the problems will be addressed," he said.

German Chancellor Angela Merkel, in China for a three-day visit to boost her host's confidence in Europe, also attended the forum along with executives from the energy, chemicals, engineering, banking and electronics sectors.

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