Chinese economists and business leaders point out that the eurozone debt crisis is far from easing up, despite Greece's choice to stay with the EU.
Reform of Europe's financial system and economy will follow a thorny path, even though the Greek election pulled the country back from the brink of exiting the euro, according Barclays Plc.
The eurozone is at a crossroads and the euro is now in an extremely dangerous situation. Until final ways and means of resolving the crisis are found, rather than bailouts which simply buy time, the euro's survival is not guaranteed.
Increasing pessimism is emerging from Chinese economists and in the business press about Europe's prospects, following a European Union bailout for Spanish banks and ahead of a general election in Greece that could determine whether the country will stay in the eurozone.
China's contribution to any European Union (EU) bailout through the IMF must be linked to quota reform by the international institution, said Li Daokui, a leading Chinese economist.
The festering European debt crisis could dampen investors' confidence, but would have only a limited impact on China's economy in the long run.
"While Greece is too small to fail, the eurozone is too big to fail," Zhou Hong, at the Chinese Academy of Social Sciences (CASS) told Xinhua.
Although many of them have said, or rather hope, that the chances of a Greek exit are still small, there is concern that, should it happen, it would cause problems for the Chinese economy.
To be or not to be that is the question Greece is trying to answer: whether it should still be a member of the eurozone or not has become a pressing concern not just for Greece and but for the rest of Europe.
Although there is only "a slight" chance that Greece will leave the eurozone, China should take steps to guard against the possible effects.
Overcoming the debt crisis haunting Europe is not a matter of months, but of years.