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Cooperation with China to boost confidence of Europe

(People's Daily Online)

15:55, November 06, 2012

The sovereign debt crisis breaking out in 2009 is still impacting Europe. The data show that more than half of bailout funds of the International Monetary Fund (IMF) have flowed to the European Union (EU) since 2011.

At the critical moment, the partners of the EU on the other side of the Atlantic only paid lip service and some EU members also began bad-mouthing the euro and the process of European integration. The European countries have set their eyes on China and the international media are also observing China's reaction to the fate of Europe.

Chinese government has proved this with actions. In recent years, Chinese leaders' European tours have become a "Trip of Confidence." China reiterated that a united, prosperous and strong Europe is in line with China's interests and conducive to global peace and development. China is willing to join hands with the EU to overcome the difficulties.

China did not just talk the talk. In June 2012, Chinese leader announced at the seventh summit of the Group of 20 Finance Ministers and Central Bank Governors (G20) that China supported the IMF and decided to provide 43 billion U.S. dollars of capital increase to help it to cope with the risks and challenges faced in current world economy.

During the past three years, China adopted various measures to expand imports from Europe and it has become one of the fastest growing export markets of the EU. Despite the withdrawal of international capitals, China increased its investment in Europe. According to statistics of PricewaterhouseCoopers, China has been increasing its investment in Europe in the past few years, with the amount of capital invested exceeding Europe's investment in China for the first time in the first quarter of 2012.

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