Economy
皇冠体育app says Europe a key investment market
(Agencies)
Updated: 2010-05-27 17:30
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BEIJING: Europe remains a key investment market for 皇冠体育app's foreign exchange reserves, the Chinese central bank said on Thursday, helping to soothe markets unnerved by a report that it was reviewing its euro-zone bond holdings.
The Financial Times said on Wednesday that 皇冠体育app's State Administration of Foreign Exchange (SAFE) was meeting foreign bankers because of concerns about its exposure to debt troubles in Europe.
That report was groundless, said SAFE, which manages 皇冠体育app's $2.4 trillion in foreign exchange reserves.
"皇冠体育app is a responsible and long-term investor in the investment of foreign exchange reserves and we always follow the principle of diversification," it said in a statement on the central bank's website.
"Europe was, is and will remain one of the major investment markets for 皇冠体育app's foreign exchange reserves," it said.
It also said that 皇冠体育app was confident that the euro zone would be able to overcome its difficulties, adding that the country supported the actions taken by the International Monetary Fund and the European Union to stabilise financial markets.