DALIAN - Premier Wen Jiabao said on Wednesday that China is willing to help debt-laden Europe by increasing its investment.

"We have been concerned about the difficulties faced by the European economy for a long time, and we have repeated our willingness to extend a helping hand and increase our investment," Wen said at the opening of the World Economic Forum's annual meeting of "New Champions 2001," a three-day event held in the city of Dalian in northeast Liaoning Province.

Wen also urged the European Union (EU) to acknowledge China's status as a market economy, and hoped EU leaders can look at Sino-EU relations from a bold and strategic view.

"Based on the WTO rules, China's full market economy status will be recognized by 2016. If EU nations can demonstrate their sincerity several years earlier, it would reflect our friendship," he said.

Wen added that he hopes his scheduled meeting with EU leaders next month will lead to a breakthrough in this regard.