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China's economic transformation deepens Sino-French co-op: Chinese Counselor

Posted: 2010-July-8
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  By the end of 2009, China had signed 3,968 agreements of importing technology from France, totaling 19.05 billion dollars. France had set up 3,938 investment projects in China, totaling 9.51 billion dollars in actual investment.

  Meanwhile, China, with an actual investment of 24.492 million dollars in France, has made France its fourth biggest trade partner in the European Union and its second technology provider in Europe.

  Ma appreciated France's stable investment in China, adding that China is also encouraging its investment in France. The Chinese investment in France is gaining momentum, with expanding fields and diversifying styles.

  The latest data from the Invest In France Agency showed the Chinese investment in France has approached 1.5 billion dollars, most of which focused on trade, tourism, chemical industry, communication and finance.

  However, the global financial and economic crisis has brought challenges to the Chinese investment in France, Ma said.

  Chinese enterprises weathered a general decrease in business, orders and customers during the downturn.

  But Ma stressed that the two sides can jointly strive to improve the situation. Several Chinese companies have succeeded in merging with local enterprises and overcome the difficulties at the initial stage.

  In recent years, great progress has been made in promoting bilateral trade.

  Ma recalled the visit to France of the Chinese delegation led by Commerce Minister Chen Deming in late 2009. Chen and French Economic Minister Christina Lagarde reached consensus in exploring new common economic interests while further promoting traditional cooperation.

  "Based on the principle of mutual win-win cooperation and common development, China and France will surely expand their cooperation to more areas and push it toward a new stage," Ma said.

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Source: English.news.cn2010-07-08Editor: grace
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