The European Commission鈥檚 鈧�315bn investment plan has attracted support from China, the first non-EU country to back the initiative.
Jyrki Katainen, vice-president responsible for investment within the Commission, said he was 鈥渄elighted鈥� by China鈥檚 pledge, made following a visit to Beijing.
鈥淭his is the right moment to invest in Europe, and I am delighted China has announced its intention to contribute to the Investment Plan,鈥� said Katainen, who has visited all but one EU member state in an effort to win support for the initiative.
He added: 鈥淚 am confident other institutional investors will follow.鈥�
The Commission did not disclose the size of China鈥檚 contribution but it stands alongside 鈧�47bn worth of commitments from nine member states, ranging in size from Luxembourg鈥檚 鈧�80m to the UK鈥檚 鈧�8.5bn.
The European Fund for Strategic Investments (EFSI), part of the 鈧�315bn plan, in July and confirmed it would offer funding to a number of projects backed by Danish pension funds.
The announcement comes as the Commission seeks to boost investment activity within the EU.
As part of its attempts, it will , an attempt by Jonathan Hill鈥檚 directorate-general for financial stability to simplify access to market funding.
