Client Affairs

China Says Will Keep Cooperating With Greece

Amisha Mehta Reporter 6 July 2015

China Says Will Keep Cooperating With Greece

China has responded to Greek requests amid its debt crisis and has reinforced its commitment to maintain cooperation with the troubled country.

China has said it will continue to cooperate with Greece following the country's default on its debt to the International Monetary Fund on Tuesday last week.

“China has used concrete actions to respond to Greece's concerns and requests about overcoming the crisis,” ministry spokeswoman Hua Chunying told a daily news briefing late last week. 

“We will continue, in our way, to unceasingly promote practical bilateral cooperation, including cooperation in the financial sphere, with Greece," he was quoted as saying.

Chinese Premier Li Keqiang said last week that China, which is the European Union's second-largest trading partner, did not want to see Greece leave the eurozone and that it would continue to buy eurozone debt, according to Reuters.

As global stocks dipped lower in anticipation of Greece's weekend austerity referendum, China's main stock benchmark fell 7 per cent on Friday as government stabilising measures failed to reassure investors. (As at the time of going to press, voters in Greece appear to have decisively voted against a proposed bailout package for the country, raising further fears that Greece will leave the eurozone and hence hit markets.)

Register for WealthBriefingAsia today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes