China not out to purchase Europe: Wen

GUANGZHOU - Premier Wen Jiabao said on Friday that China has neither the intention nor the ability to buy up Europe, answering concerns over the country's increasing investment in debt-stricken eurozone economies.

China is "willing to cooperate with Europe to fight the current crisis. Some people say this means China wants to buy Europe", the premier told a business forum in the southern city of Guangzhou.

Such a worry is unnecessary, although the nation encourages its companies to invest in the region, he said.