Gain control on currencies of other nations ..it is better than conquering physically !

The People's Bank of China said in a statement that a Financial Times report that the State Administration of Foreign Exchange (SAFE) was concerned about its exposure to euro zone debt was groundless.

The central bank said Europe would remain one of China's main investment markets and Beijing would support actions to help the European Union resolve its debt crisis.

The 16-nation single currency, which has lost more than 8 percent against the dollar this month, rose more than 1 percent after falling to a day low of $1.2154 on the FT report.

European stocks also rose by 2 percent after a 3 percent jump on Wednesday.

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