China still doubtful over euro's prospects

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CHINESE officials remain worried about the state of the euro, the visiting French finance minister said yesterday, while repeating assurances the eurozone has stabilized and that France is on track for recovery.

Pierre Moscovici, in Beijing for a one-day visit, said concerns over the future of the euro came up in all his meetings, even as the French side sought to attract Chinese investment, further nuclear cooperation and promote Paris as a place to do business in the yuan.

"There was one point that came up in all our discussions, which I had to hammer away at because I am convinced. I sensed a strong question still remains here, perhaps due to a misunderstanding or a lack of information," he said.

The questions on the euro came from Chinese Vice Premier Li Keqiang, as well as from Lou Jiwei, the head of sovereign wealth fund China Investment Corp, Moscovici said.

"China has helped sustain the euro since the beginning, and it took a position in the euro during a difficult time. At the time there was both support and concern," he added. "The support remains. The concern is only partially dissipated, but not totally."

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