CHINA has pledged to buy more of Spain´s national debt in an effort to save the country from financial meltdown.
China´s Vice-Premier, Li Keqiang, insisted last week that he has confidence in the Spanish market and that China will be a long-term investor in Europe.
It follows weeks of pressure on Spain from international debt markets who are concerned the country could follow the same fate as Greece and Ireland.
The announcement from China came as Li undertook a three day visit to Spain.
There are no official figures for the amount of debt that will be bought by China but Li was keen to show his support for the latest austerity measures and reforms taking place in the country.
Some critics have asked what China may expect in return, even suggesting that Spain would continue to try and overturn a 21-year-old European arms embargo against China.