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TEHRAN, June 01 - China is happy to see political stability in Italy, the Chinese foreign ministry said on Friday, after a coalition deal removed the risk of a repeat vote and ended months of uncertainty that rocked Italian financial markets.
TEHRAN, Young Journalists Club (YJC) - Italy is an important member of the European Union and has traditionally friendly ties with China, ministry spokeswoman Hua Chunying told a daily news briefing in Beijing.
"China is of course happy to see Italy maintain political and social stability, and its economy continue to develop and prosper," she said.
Italy's anti-establishment parties revived coalition plans on Thursday, ending three months of political turmoil by announcing a government that promises to increase spending, challenge European Union fiscal rules and crack down on immigration.
Chinese Premier Li Keqiang said last week that China was a long-term and responsible investor in the euro and hoped the currency would be strong and steady, in spite of the occasional sovereign debt crisis in Europe.
China says it is a responsible investor and thinks long-term in its investments. China also says it diversifies its foreign exchange reserves to safeguard their value.
Holding more than $3 trillion in foreign exchange reserves, China is a powerful global investor. The exact composition of the reserves is a state secret.
Source: Reuters
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