Three big news are coming! , China-France Economic and Trade

Release time:May 08, 2024 17:08 PM

Chinese President Xi Jinping recently concluded his third state visit to France. Taking stock of this visit, there are frequent good news about China-France economic and trade cooperation, and many fields are "running in both directions."

During his talks with French President Macron, Xi Jinping pointed out that we must adhere to mutual benefit and win-win results and jointly oppose "decoupling and breaking links". He also expressed the hope that France would provide a good business environment and stable development expectations for Chinese companies to invest and cooperate in France.

Macron also clearly expressed his willingness to strengthen economic and trade cooperation with China. He said that France hopes to further strengthen bilateral economic relations and multilateral communication and cooperation with China, and said that it will keep its market open to China and will not engage in discriminatory policies against Chinese companies.

Currently, as some countries promote "decoupling and disconnection" and "building walls and barriers," global industrial and supply chains are experiencing unnecessary disruptions, and the world's economic growth prospects are also facing more risks and uncertainties. Some analysts believe that as two influential countries, China and France will strengthen open cooperation, which will not only benefit both sides, but also benefit the world.

Zhang Jinling, a researcher at the Institute of European Studies at the Chinese Academy of Social Sciences, said that the significance of China-France relations goes far beyond general bilateral relations. It is not only one of the most important bilateral relations in China-Europe relations, but also an important part of the Asia-Europe cooperation dialogue.

Ding Chun, director of the Center for European Studies at Fudan University, said in an interview with a reporter from China News Service that "decoupling and breaking links" is unrealistic and harmful, both in theory and in practice. France has always valued strategic independence, and it is not surprising that it has independent opinions on strengthening cooperation with China. This time, China and France jointly spoke out, adhering to mutual benefit and win-win results, and opposing "decoupling and breaking links", which will play a positive role in promoting the development of bilateral economic and trade cooperation.

During this visit, promoting an upward balance in bilateral trade was a key word for Sino-French trade cooperation. Xi Jinping said that China is willing to import more high-quality French products and promote the "from French farm to Chinese table" mechanism to achieve more pragmatic results. He also said during a small-scale meeting between the heads of state of China and France that he welcomes more high-quality French agricultural and food products to enter the homes of Chinese people.

Currently, France is China's third largest trading partner within the EU, while China is France's largest trading partner in Asia and seventh largest in the world. According to Chinese statistics, the trade volume between China and France last year was approximately 555.11 billion yuan, a year-on-year increase of 3.1%, which was better than the overall growth rate of China's foreign trade during the same period. Among them, China’s imports from France increased by 10.9% year-on-year.

As China expands its imports of French agricultural and food products, more high-quality French agricultural products such as cheese, ham, and wine are expected to appear on the tables of Chinese people. This will not only enrich the choices of the Chinese people, but also promote new growth in trade between the two countries.

In the field of investment, Macron said that more Chinese companies, including high-tech companies, are welcome to invest and cooperate in France.

In Ding Chun's view, Europe had previously been wary of overseas investments by Chinese high-tech companies. Behind France's statement of welcoming Chinese companies to invest in France is actually recognition of the comparative advantages of Chinese companies in relevant fields, which is beneficial to breaking the "de-risking" policy.

China and France not only continue to "go in both directions" in areas with rich experience in cooperation in the past, such as civil nuclear energy and aerospace, but also express their willingness to work together in many emerging fields.

Xi Jinping said that the two sides will promote joint research and development and innovation in aerospace, civil nuclear energy and other fields, strengthen the docking of development strategies, and expand cooperation in emerging fields such as green energy, intelligent manufacturing, biomedicine, artificial intelligence, and third-party markets.

These are areas where both parties have a good foundation for cooperation and a strong willingness to cooperate. For example, in terms of green energy, China's new energy-related applications have developed rapidly in recent years, and France also attaches great importance to this field; artificial intelligence contains major opportunities to reshape economic and social development, and is a "must compete" for all countries.

During this visit, the two sides signed 18 inter-departmental cooperation agreements, covering aviation, agriculture, humanities, green development, small and medium-sized enterprise cooperation and other fields.

Observations believe that deepening cooperation in multiple fields will provide new and important impetus for the development of Sino-French economic and trade relations.

Zhang Jinling said that as China's comprehensive national strength gradually improves, competition in the economic field between the two sides is inevitable. Under such circumstances, how to maintain healthy competition and cooperation, promote complementary advantages, and achieve mutual success is very important to the healthy development of economic and trade relations between the two countries.

Ding Chun said that the two sides have reached cooperation intentions in many fields in a good atmosphere this time, which will push China-France economic and trade relations to a higher level.

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