China is becoming concerned that Europe's continuing financial meltdown will harm its exports, as the U.S. plans to launch a trade enforcement action against the world's No. 2 economy.

Commerce Ministry spokesman Shen Danyang said in a press conference Tuesday that the spreading sovereign debt crisis threatening the euro zone may create a huge dent on China's exports to the region and the rest of the world.

Shen said it is understandable that the European Union and the U.S. will strive for ways to keep themselves from bankruptcy, but the trade sanction pronouncement was something China did not expect.

Earlier, the office of U.S. Trade Representative Ron Kirk announced it will be launch a major trade measure action plan against China. The European Union and U.S. both agree that China lacks transparency in its economic policies and business dealings.

Shen said China is open to working together with the European Union and the U.S. to address the global financial crisis. But he expressed dismay that previously dominant countries still have not accepted China's economic rise.

"China is disappointed that until now, our country has yet to be recognized by the EU as a global market mover despite our rapid economic transformation from a planned economy," Shen said.

He added that the U.S. benefits from the increasing buying power of most Chinese nationals, as China has bolstered its holdings of U.S. Treasuries to a record $1.17 trillion.