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Tuesday, April 12, 2011

Spain gets Chinese investment pledges - source

China will carry on buying Spanish debt and will help fund a restructuring of the euro zone state's savings banks, a Spanish government source said after the countries' leaders met in Beijing.; "China has shown itself to be a very good friend to Spain as we've confronted the difficulties of the financial crisis, which fortunately are being solved," Spanish Prime Minister Jose Luis Rodriguez Zapatero told Spanish radio stations from Bejing. The Spanish source told Reuters that Chinese Premier Wen Jiabao did not mention any specific investment amounts at the bilateral meeting on Tuesday. China holds 12 percent of Spanish sovereign debt that is in foreign hands, the source said.