China is also reaffirming its confidence in the European economy. The positive outlook comes despite Standard&Poor's recent downgrade of Italy's sovereign credit rating.

Chinese Foreign Ministry spokesperson Hong Lei says that China will continue to view Europe as an important investment market. China supports recent measures taken by the IMF and euro zone and believes Europe has the ability to ensure the safety of Chinese investments there.

Sources estimate China will invest 25 percent of its huge foreign exchange reserves in euro-dominated assets to help Europe get through its debt crisis.

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