"The fact that China and others might be involved in a comprehensive solution does not make me worry in the slightest, because China has an improbably large surplus, so it makes sense for China to invest this in Europe."

Jean-Claude Juncker, chairman of the Eurogroup gathering of eurozone finance ministers, saying that it made sense for China to invest its surplus in Europe, but does not involve any political concessions.

"It is unjustifiable to require China to appreciate its currency by a large amount within a short period of time."

Jiang Yu, spokeswoman for the Foreign Ministry, saying that China will continue to steadily promote currency reforms, but the process will be gradual.