A vice Chinese minister was reported to reject earlier reports that China is prepared to lend 100 billion U.S. dollars to the International Monetary Fund as a way to help the debt-ridden European countries.

The reports are "purely rumor," the Wall Street Journal reported, quoting China's Deputy Finance Minister Zhu Guangyao.

Speaking to reporters on the sidelines of a meeting of finance ministers and central bankers from the Group of 20 nations, Zhu said he was confident that the euro zone's problems can be resolved, and said China was willing to step up cooperation to resolve Europe’s problems.

Earlier Saturday, Dow Jones Newswires reported that China and Japan would likely to be the first countries to invest in IMF, to help deal with global financial crisis, but neither will make any commitment before the euro zone reaches a deal to boost its own rescue funds.

The report also said that China was likely to contribute about 100 billion U.S. dollars and Japan would contribute 50 billion U.S. dollars more or less.