EU bailout fund chief eyes China investment
Updated: 2011-10-28 17:36
Klaus Regling, CEO of the European Financial Stability Facility (EFSF), visitsed China on Friday in the hope to attract Chinese investment to European bailout bonds.
Regling's visit to Beijing came one day after European leaders sealed the agreement to reduce Greece's debt by 50 percent and expand the EFSF, the euro zone's bailout fund, to 1 trillion euros ($1.4 trillion) from 440 billion euros.
China has been a regular buyer of EFSF bonds, said Regling, who refused to release the figure.
He hopes to make the bonds attractive to China, a country with a huge surplus in current account. But he added that there would be no political conditions for China's investment on the bonds, as they would be presented as potential commercial investment.
Regling said he would meet with officials of China Ministry of Finance and the People's Bank of China.
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