China backs Spain by acquiring more debt

From http://www.expansion.com/2011/04/12/economia/1302595011.html (in Spanish)

Chinese prime minister Wen Jiabao has announced today to Spanish president José Luis Rodríguez Zapatero that China will keep on acquiring more debt, as done in the recent months, and will also invest in Spanish saving banks. José Luis Rodríguez Zapatero has thanked Wen Jiabao for the Chinese support during the toughest moments in which international finantial markets showed little trust in Spanish economy. José Luis Rodríguez Zapatero’s words are explained by the fact that Spanish debt in Chinese hands has grown from 4% in 2009 to the present 12%. In turn, Wen Jiabao has declared Spain as China’s best friend in Europe, whereas Li Keqiang has congratulated Spanish government by the measures undertaken in order to improve the situation of the economy. He has also declared his impression that Spain is back to the path of sustained growth and shown interest in the import of Spanish agricultural products. José Luis Rodríguez Zapatero and minister Miguel Sebastián have invited Chinese officials to invest in Spanish ports and in the privatization process of airports, and to consider Spain as a prominent destination for Chinese tourists.