'No concrete plan of EFSF investment yet'

Updated: 2011-11-03 07:15


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CANNES, France - China so far has no concrete plan of investing in the European Financial Stability Facility (EFSF), the euro zone's stopgap bailout fund, Chinese Vice Finance Minister Zhu Guangyao said here on Wednesday, on the eve of the Group of Twenty (G20) leaders' summit.

"The two new investment tools under the EFSF, namely to offer insurance and to offer special purpose investment vehicle, havenot been fully established yet, thus it's too early to talk about China's investment," Zhu told a press briefing by the Chinese delegation to the summit.

The G20 leaders'summit, under the French presidency this year,is scheduled to be held on Thursday and Friday in the resort cityof Cannes that is now fully fortified.

The summit is widely believed to be dominated by the eurozone's sovereign debt crisis, especially after Greece's Prime Minister George Papandreou earlier this week surprisingly decided to put the EU's latest hard-won bailout aid package for Athens to areferendum.