China is willing to buy bonds from nations involved in the sovereign debt crisis, National Development and Reform Commission Vice Chairman Zhang Xiaoqiang said in an interview with the media in Dalian earlier today.
China is willing to offer assistance, Zhang said, adding that Premier Wen Jiabao had made similar remarks earlier, according to a transcript distributed on the planning agency’s website today. Caijing magazine attended the briefing and published an article earlier today.
China is also actively allocating foreign reserves via commercial banks to support domestic companies going abroad, Zhang said, without elaborating. China will also use foreign reserves to secure important commodities or find resource assets overseas, he said.
The nation wants countries including the U.S. to become more open to investment by Chinese companies, which will create local jobs, Zhang said. China aims to complete and publish foreign-investment guidelines for industry this year, he said.
A double-dip recession abroad is “avoidable” if the global community increases coordination and efforts and adopt “appropriate” measures, Zhang said.
If the U.S. introduces a third round of quantitative easing, this will further increase the global inflation pressure, Zhang said. China’s full-year consumer price index may rise by “a bit more than 4 percent” this year, he said.
To contact the editor responsible for this story: Joshua Fellman at [email protected]
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