Official: China will be part of effort to aid Europe

China’s vice foreign minister said that the country will be part of the global effort to help Europe, as EU leaders agreed on Friday on stricter budget rules for the eurozone, Reuters reported. “China will be part of the international effort to help Europe,” said Fu Ying, China’s vice foreign minister, at the sidelines of a conference in Vienna. “We want to invest, we are importing more, we are sending delegations to buy, to purchase, that will help create jobs, that will help stimulate the economy.” China’s leaders have balked at publicly committing part of the country’s foreign exchange reserves to helping distressed and over-indebted European nations. However, a report that China is planning a US$300 billion investment vehicle for European assets boosted investor sentiment on Friday.