Now why would the Chinese want to ensure the survival of the EU?

The Telegraph report that:

'The Chinese premier, Wen Jiabao, has thrown the eurozone a vital lifeline and pledged to buy billions of euros of European debt to keep the single currency project alive. '

So why are the Chinese so keen to ensure the survival of The Euro and thus the European Union? Why are they announcing support for The Euro at almost the same moment that they announce that they will stop buying US debt? Do the Chinese see the EU project as the sort of nascent superpower that they would prefer to do business with than with the USA? A non-democratic (maybe even anti-democratic) superstate, run by a small elite and administered by apparatchiks whose first loyalty is to the EU not their own country; hard to see why the EU appeals to the Chinese isn't it?