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China's Hu says Europe can save its own economy

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China's Hu says Europe can save its own economy


China’s President says he is confident Europe can overcome its economic problems.

But speaking during a visit to Austria, Hu Jintao made no offer to buy any more European government debt with details awaited on investment options for the EU’s rescue fund.

Cash-rich China is awaiting details on investment options for the euro zone’s EFSF rescue fund.

“We are following the economic development under the current difficulties with attention,” Hu told reporters through a German translator after meeting his Austrian counterpart Heinz Fischer.

“We are convinced that Europe has the wisdom and has the competence to overcome the current difficulties,” added Hu, who will attend a summit of Group of 20 (G20) leading economies in France later this week.

Hu said economic uncertainties were of importance to the international community, especially in big economies, and that it was vital to foster growth, stability and greater cooperation.

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