China Becomes The European Union God Of Finance? Hundreds Of Billions Of Dollars To Buy European Debt

At present, Europe is suffering from debt problems. Not bad money China has become the God of wealth, and China is also interested in expanding the value of its foreign exchange reserves and expanding its influence in Europe. Hungary officials recently revealed that the mainland has recently completed the purchase of Hungarian government bonds.

According to the Taiwan industrial and commercial times, Hungary's minister of national development, Tamas Fellegi, said at a press conference in London, 24, that China had recently completed the purchase of Hungarian government bonds, but he did not disclose the amount. "In fact, China has bought Hungarian bonds recently," Fellegi said.

In June, when Premier Wen Jiabao visited Hungary, he said that China would buy "a certain number" of Hungarian government bonds.

According to the report issued by Standard Chartered Bank, China may buy about $100 billion of German, French bonds and European corporate bonds in the first 5 months of this year.

Jia Qinglin, chairman of the Chinese National Committee of the Chinese people's Political Consultative Conference (CPPCC), who recently visited Greece in the European debt stricken area, 25, also said that China supports the package adopted by the European Union, the European Central Bank and the International Monetary Fund. Finance Stabilizing measures and providing practical help for European countries to resist crises. China is also a long-term investor in the European sovereign debt market, and will continue to support Europe and the euro in the future.

Chinese and foreign media reported that in October last year, when Wen Jiabao held talks with Greek Prime Minister Papandreou, he said that China's national foreign exchange reserves had purchased and held Greek bonds, and would take a positive attitude to participate in the subscription of new Greek bonds. At that time, Wen Jiabao's statement had aroused great concern in the international market.

China's foreign exchange reserves are highly concentrated on us and US dollar assets and have been thinking about how to spanfer risks. China's Information Bureau, the head of China's National Bureau of statistics, reported yesterday that China should ensure that its huge foreign exchange reserves are maintained and increased through measures such as expanding the types of treasury bonds purchased. The newspaper also said that China should expand reserves of energy and resources as well as remit people to the people.

Coincidentally, Zhou Xiaochuan, governor of the people's Bank of China, said on the 24 th that in the future, more resources could be allocated to the private sector, and more foreign currencies should be remitted to the people, so that the people could decide their own purpose of foreign exchange.

Zhou Xiaochuan said: "the so-called" sink in the people "is not the ordinary people to hide their foreign exchange in their own hands, but they decide to use such opportunities as investment.