Yuan to increase Europe appeal

Chinese tourists'interest in Europe has increased in the past 12 months.

Consultancy company Bain & Co said Chinese travelers'spending on luxury products in Europe increased by 28 percent year-on-year in 2014.

More affluent middle-class people from China have traveled to Europe in the past three years.

According to global travel search site Skyscanner, Iceland is the most popular European destination for this year among Chinese.

High-end travel agency HH Travel in Shanghai said Spain, Portugal and Austria are now more favored by tourists from China with bigger budgets and a higher demand for exclusivity.

Pan Gongsheng, deputy governor of the People's Bank of China, said at a news conference on Friday that the quantitative easing policy will help to shore up the eurozone economy and strengthen its demand for products produced by China, as Europe is a major trading partner of China.

But it will strengthen the dollar and increase pressure for the yuan to depreciate against the US currency, Pan said.

It will also create more uncertainties in the capital market, since capital outflows from Europe may flow into the US due to strengthening of the dollar, Pan added.

Chen Jia contributed to this story.