Chinese central bank governor Zhou Xiaochuan said on Wednesday that China would play a bigger role in solving Europe's long-running debt problems.
Beijing will continue to invest in eurozone government debt, said the head of People's Bank of China, adding that he believed the challenges faced by the eurozone can be solved.
Asian stocks extended gains on Zhou's remarks.
Zhou was speaking at an exhibition on the euro in Beijing with European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy.
The Chinese central bank governor said he fully supports monetary measures taken by the European Central Bank (ECB) to mitigate the fallout from the credit crisis.
China plans to streamline and expand investment in Europe, he said. Zhou also repeated recent statements by Chinese Premier Wen Jiabao that China will become more involved in efforts to resolve the crisis through mechanisms such as the European Financial Stability Facility (EFSF).
Meanwhile, Barroso praised the trend of European integration, saying that it was inseparable from the future of the euro.
Europe was moving toward a fiscal union, while the ECB was ensuring that banks have liquidity, Barroso said. At the same time, it was important not to forget the importance of growing the economy and creating jobs, he added.
Separately, Treasury Secretary Timothy Geithner said on Tuesday that European leaders are getting a better handle on the debt crisis.
"European leaders are making some progress. They have got a ways to go, but they are starting to build more confidence around the world that they have got a plan in place that will at least avoid the prospects of financial catastrophe," Geithner told the Senate Finance Committee.
"They seem more committed now to avoiding a catastrophe, an implosion, a blowup in Europe that would have a very adverse impact on the United States," he said.
"That is a very good thing for us. Because it means that, even if growth in Europe is weaker than any of us would like, we are less likely to face the aftershocks of a sustained period of Europe living on the edge of crisis," Geithner said.
European nations still face years and years of difficult reforms, he cautioned.