China could come to the rescue of the eurozone by contributing around $100bn to its bailout fund, it has been suggested.
Two senior advisers to the Chinese government told the Financial Times it was "very likely" to put money into the European Financial Stability Fund (EFSF).
But they say any contribution would have to be given strong guarantees and would depend on the input from other countries.
Li Daokui, an academic member of China's central bank monetary policy committee, told the paper: "It is in China's long term and intrinsic interest to help Europe because they are our biggest trading partner.
"But the chief concern of the Chinese government is how to explain this decision to our own people. The last thing China wants is to throw away the country's wealth and be seen as just a source of dumb money."
Financial Times' editor Lionel Barber told Sky's Jeff Randall show: "The Chinese have signalled interest. We spoke to two senior officials, one being a member of the monetary policy committee so someone quite close to the central bank and powers that be.
"They are saying they are very likely but with conditions and one of those will be who else is coming in. The the largest trade partner for China is Europe so they have got a lot at stake. This is not a gesture of magnanimity."
The reports came after French president Nicolas Sarkozy and Chinese leader Hu Jintao spoke on the phone on Thursday and pledged to cooperate to revive global growth.
The fund's chief executive is due to visit Beijing on Friday to talk to potential investors.
Beijing has so far only expressed sympathy for the EU but has not committed any cash and only pledged to help by continuing business as usual.
Joining in the bailout could help China in its campaign to join the top ranks of governments managing the global economy.
European leaders finally agreed the two final elements of the deal early on Thursday morning following marathon talks in Brussels.
It was decided banks will have to accept a 40% write-down on any Greek debt they hold - higher than the 40% they had originally tabled.
It was also agreed that the 440bn euro (?386bn) bailout fund will be increased to around 1trn euro (?876bn).
This adds to an earlier agreement to recapitalise vulnerable banks to give them greater protection against future crises.
The package means the summit has delivered on its promise and markets soared after the deal was finally announced following weeks of wrangling.
Britain's FTSE 100 closed 2.9% per cent higher, Germany' DAX was up 5.3%, France's CAC up 6.3% and the Dow Jones closed up 2.9% after its biggest gain since August.
Bank shares topped gains on the FTSE-100, with Barclays up 17.6 per cent and Royal Bank of Scotland up 10%.
EU President Herman Van Rompuy said the deal will reduce Greece's debt to 120% of its GDP in 2020. Under current conditions, it would have grown to 180%.
European Commission president Jose Manuel Barroso said: "These are exceptional measures for exceptional times. Europe must never find itself in this situation again."
He has also given current EU economics commissioner Olli Rehn special responsibility for the euro currency area in a shake up of the leadership structure.
Chancellor George Osborne said the deal was "much better than expected" but stressed Britain would not be giving more money to the bailout fund.
Mr Osborne, speaking in the Commons, said the UK would not pay directly or via the International Monetary Fund (IMF) to boost the eurozone's coffers.
He admitted there could be a case for increasing support to the IMF but insisted: "We would not be prepared to see IMF resources reserved only for use by the eurozone."
The Chancellor also confirmed that no British bank was required to hold extra capital under the terms of the new agreement.
On Thursday night, Mr Sarkozy said Greece should never have been let into the euro in 2001.
"Let's say it straight, it was an error because Greece entered on the basis of false figures and it wasn't ready. Its economy wasn't ready," he said.
In a French TV interview to explain the crisis plan, he said the new deal had avoided a financial disaster on a global scale.
"We had to face up to all this. If the euro had exploded last night, all of Europe would have exploded," Sarkozy said. "If Greece had defaulted, there would have been a domino effect carrying everyone away."
"If there had not been an agreement last night, it was not just Europe that would have sunk into catastrophe, it was the whole world," he said. "We took important decisions yesterday that avoided catastrophe."
Greece's prime minister George Papandreou said the deal heralded a "new era" for his country and had given it the breathing space it needed.
In a televised national address, the leader said: "We must continue to work intensively to change everything that offends us.
"The crisis gives us the opportunity and the deal gives us the time to decide what is important for Greece... We still have a lot of work to do and we must all be together."
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