The Straits Times
Published on Dec 16, 2012

China wealth fund warns of bleak eurozone outlook


SANYA, China (REUTERS) - China's sovereign wealth fund China Investment Corp said it is "not optimistic" about the outlook for the debt crisis in the eurozone, but will consider investing more in the region if countries create a more friendly environment.

Mr Jesse Wang, an executive vice president at CIC, said Europe needed more time to increase fiscal revenues to lift itself out of the crisis.

"I think the outlook for the European debt crisis is not optimistic yet," he said on Sunday at a forum in Sanya in the southern tropical Hainan island.

"We have been investing actively in European countries and if the heavily indebted countries and European Union can provide a more friendly investment environment, I think we can invest more actively in the future," he said.