China said it plans to continue buying European sovereign debt, but urged further measures be taken to prevent a worsening of the debt crisis, according to newswires reports Thursday Chinese Premier Wen Jiabao told visiting German Chancellor Angela Merkel at a state function in Beijing Thursday that his main concerns were whether Greece would exit the single currency and whether Italy and Spain would undertake steps necessary to prevent a worsening of the sovereign debt crisis
Wen also said China remained confident in the future of the single currency and would seek closer ties with the European Central Bank
China is believed to have been a regular buyer of debt issued by the European Financial Stability Facility, in addition to the sovereign debt of individual nations within the euro zone, but the size of its holdings is not known
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