The Chinese government has stated its willingness to help the Eurozone countries to overcome the current financial crisis by adopting a series of measures to support the European Union in the management of its debt crisis. Vice Premier Wang Qishan, inaugurating the trade talks that take place every year between China and the European Union, affirmed, inter alia, that Beijing will keep large reserves in euro, pushing this way the euro prices upward on currency markets and reiterated its full support for the measures taken by the European Union and the International Monetary Fund to stabilize financial markets. China had already occurred before in favor of Greece, offering the Papandreou government aid very real and engaging, inter alia, to endorse the Hellenic bond issue when Athens will return into the markets and, then, in favor of Portugal, also promising to Lisbon to buy Lusitanian government bonds newly issued. China is buying the debt of the fragile euro, reducing the risk of default and acts to rebalance imbalances that otherwise could not be fully accommodated within the euro area.

In exchange for financial backing, China demands that countries in difficulty vary appropriate risk mitigation and debt restore plan. The support of China to the European stabilization policies is certainly justified by the fact that the EU is the largest trade partner of China, so a long period of economic difficulties of the Old Continent could have significant impact on Chinese exports to the point of reducing them significantly. Moreover, from a political perspective, financial protection guaranteed by China could make the EU countries more willing to accept any requests made by China: Chinese Minister of Commerce has, in this regard, said he hoped that the European Union recognizes as soon as possible to China the market economy status.