Eurozone debt deal welcomed

Hu: China hopes measures will stabilize world financial markets

BEIJING - China welcomed the deal on Thursday to tackle the eurozone debt crisis and expressed its willingness to help boost global economic recovery.

European leaders sealed a last-ditch agreement after days of negotiation. Their plan is to reduce Greece's debt by 50 percent and expand the European Financial Stability Facility (EFSF), the eurozone's bailout fund, to 1 trillion euros ($1.4 trillion) from 440 billion euros.