China says has increased holdings of Spanish debt - Reuters

BEIJING | Thu Jan 6, 2011 4:50am EST

BEIJING (Reuters) - China has been increasing its holdings of European government debt, including that issued by Spain, vice commerce minister Gao Hucheng was quoted as saying on Thursday.

In a statement on the ministry's website, Gao also said that China was confident in Spanish and European financial markets and that it was also confident that they would be able to overcome Europe's debt crisis.

The statement did not provide any details about the extent of Chinese acquisitions of European bonds.

Gao accompanied Vice Premier Li Keqiang on a trip to Spain this week.

Li has said that China is willing to buy about 6 billion euros of Spanish public debt, Spanish newspaper El Pais reported on Thursday, citing Spanish government sources.

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