China to keep investing in Europe

Zhou Xiaochuan, the governor of China's central bank, said Europe will remain one of China's most important markets for investment, the Securities Times reported Monday.

Zhou said China is pleased that European leaders reached agreement on stabilizing Greece's debt crisis, and added that it will have a positive effect on the finance environment in the euro zone. Zhou said China continues to have confidence in euro and the euro zone, the newspaper reported.

A report by Standard Chartered Bank in late June stated that China has purchased more euro-nominated assets, rather than investing in US treasury bonds. Wang Zhihao, Standard Chartered Bank's chief economist for the greater China region, said investing in euro shows that China is diversifying its foreign exchange reserves.