China backs Europe on sovereign debt

Updated: 2012-01-17 17:40


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BEIJING - China on Tuesday said it will work with the international community to continue support for Europe's efforts in solving sovereign debt issues.

Foreign Ministry spokesman Liu Weimin voiced the willingness at a routine briefing in response to the credit rating downgrade of European Financial Stability Facility (EFSF) by Standard & Poor's.

He said China has taken note that a ratings agency has downgraded the credit rating of nine eurozone countries, including France, and lowered the credit rating of the EFSF, the eurozone's rescue fund.

The growth in Europe is closely involved with world economic recovery, Liu said.

China appreciates the series of measures taken by European countries in an effort to stabilize the market and promote economic growth, and believes they will overcome the difficulties of the moment, Liu said.