China is considering ways to get more involved in resolving the EU debt crisis through European rescue funds, Chinese premier Wen Jiabao said on Thursday following a meeting in Beijing with German chancellor Angela Merkel, the Financial Times reported. China “is investigating and evaluating concrete ways in which it can, via the IMF, get more deeply involved in solving the European debt problem through [European Stability Mechanism/European Financial Stability Facility] channels,” Wen said. China’s US$3.2 trillion in foreign exchange reserves is the largest in the world, and some have speculated that it could be used to supplement the US$329 billion left in the European Financial Stability Facility, the EU’s bailout fund. Merkel also urged China to use its influence to press Iran on its nuclear program. Wen has said Beijing “adamantly opposes” Iran developing nuclear weapons yet maintains that China has a “normal commercial relationship” with the country.
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