A Chinese commerce official said China should help the European Union resolve its problems with sovereign debt as much as it can, the Wall Street Journal reported. Helping Europe is in China’s own interests, said Chai Xiaolin, director of the ministry’s department of World Trade Organization affairs, adding that recognition of “market economy” status by European nations wasn’t an essential factor. Her comments differed from remarks made on Wednesday by Premier Wen Jiabao, who urged Europe to first put its own “houses in order” and grant China market economy status. Meanwhile, a group that represents the world’s biggest banks has asked Brazil, Russia, India, China and others to put together a package of US$27.6 billion to supplement debt financing for Greece, Bloomberg reported. The Institute of International Finance, which represents more than 400 banks, insurers and investment companies, said the BRIC countries and others were responding to its request with open minds and asked for “for more information and discussion.”