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PBOC Gov. Zhou says China will boost its euro holdings, but adds he hopes Europe can offer more attractive products for investment
-- European Council President Van Rompuy says political will to preserve the euro zone shouldn't be underestimated
-- Europe greatly values China's response to the continent's crisis, Van Rompuy says
(Recasts 1st paragraph, combines several earlier stories, adds background on China's euro holdings in 6th and 7th paragraphs)
BEIJING (Dow Jones)-- People's Bank of China Gov . Zhou Xiaochuan continued China's rhetorical support for Europe on Wednesday, pledging that the country's central bank will increase its holdings of euro-denominated assets.
China has consistently invested in euro assets and will further increase its holdings, Zhou said at an exhibition on the euro in Beijing that was also attended by European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso .
Zhou reiterated recent statements by Chinese Premier Wen Jiabao that China will increase its involvement in the European Financial Stability Facility.
But he added that he hopes the euro zone and European Union can offer more attractive investment products.
Despite the pledges of support, Chinese officials have stopped short thus far of offering any specific new proposals for investing in Europe or buying European assets.
China has been a regular buyer of bonds issued by the EFSF and also the sovereign debt of various euro-zone nations, but the level of its investment remains unknown.
China holds European assets through various channels, Zhou said, including its foreign exchange reserves and its sovereign wealth fund, China Investment Corp.
Speaking at the same event, Van Rompuy warned against underestimating the political will to preserve the euro zone. Europe's leaders are "determined to keep euro zone alive," he said.
Van Rompuy said Europe greatly appreciates China's response to the European debt crisis.
"We highly value China's confidence," he said, adding that expressions of support were the key outcome of the EU-China summit held in the Chinese capital on Tuesday.
Barroso praised the trend of European integration, saying it is "inseparable" from the future of the euro.
Europe is moving toward a fiscal union, while the ECB is ensuring that banks have liquidity, he said. At the same time, it is important not to forget the importance of expanding the economy and creating jobs, he added.