BEIJING - China will send a trade and investment delegation to European countries in 2012 with an eye on European assets, Minister of Commerce Chen Deming said on Monday.

About one-quarter of China's foreign-exchange reserves are in euro-denominated assets and it would be a good chance for Chinese companies to invest or buy equities in Europe, Chen said.

"Some European countries are facing a debt crisis and hope to convert their assets to cash, and would like foreign capital to acquire their enterprises," Chen said. "We will be closely watching and pushing forward."

Chen's comments were in keeping with an editorial in the Financial Times this weekend by Lou Jiwei, head of China Investment Corp, who wrote that China was keen to make equity investments in Western infrastructure, especially in Britain.

However, Chinese experts warned that the eurozone economy is still in a downward spiral and asset prices are volatile. Because of that, companies need to be cautious about the bleak market and economic slowdown in Europe.

China Daily - Agencies