According to senior authorities, China will strengthen its economic ties with France and expand corporate collaboration.
In both established industries like aviation, nuclear energy, and luxury goods as well as developing ones like medical and new energy.
At the fifth meeting of the Franco-China Business Council, Yu Yuantang, head of the European Department of the Ministry of Commerce, stated that the Chinese route to modernization will bring new chances.
New drives, and new space for the expansion of both Chinese and French firms. More than 100 French and Chinese businesses looking to collaborate on business attended the gathering.
It took place during French President Emmanuel Macron’s state visit. A team of more than 50 business heavyweights.
Including the top executives of the aeroplane manufacturer Airbus, the rail equipment maker Alstom, and the energy giant EDF, is accompanying Macron on his three-day visit to China.
Yu stated during the conference on Thursday that France, a significant member of the European Union, should take its part of the burdens with China.
In order to protect the free trade system and preserve a reliable and secure supply chain between China and the EU.
Two significant markets that support shared development are China and the EU. Despite various obstacles, China and the EU made steady progress.
In 2018, with bilateral commerce reaching a record high of $847.3 billion.
He claimed that European businesses also demonstrated trust in the Chinese market by investing a total of $12.1 billion in 2022, an increase of 70% from 2021.
He declared, “China will assist the growth of European businesses in China and urge capable Chinese businesses to expand in Europe.”
“French businesspeople are welcome to build long-term plans here (in China).
While Chinese businesspeople are urged to deepen ties with France and use their comparative advantages to pursue international markets.”
Over 100 French and Chinese companies came together for the offline meeting, which was of great significance.
According to Jean-Marc Fenet, minister counsellor for economic affairs at the French embassy in Beijing.
This will improve face-to-face communication and advance win-win cooperation in a variety of fields.
L’Oreal, a global leader in cosmetics, and Alibaba Group, a giant in Chinese e-commerce, have partnered to spotlight the circular economy and advance sustainable development.
The Big Bang project, which aims to foster and support high-tech startups in China, was also launched.
Such a chance, according to L’Oreal chairman Jean-Paul Agon, is crucial since it connects the best Chinese and French businesses for improved collaboration and cooperation.
Liu Jin, president of Bank of China, promised increased help in the financial sector in an effort to further enable commercial collaboration between China and France.
The yuan, the Chinese currency, will play a bigger part in the two-way opening. Additionally, he stated that in the future, financial institutions from China and France will work together.
More closely to expand the market as a whole and improve the interconnectedness of their respective capital markets.
The two nations benefit from mutual industrial complementarity and have a wide range of opportunities for collaboration in markets like Africa and Southeast Asia.
According to Liu, financial institutions from the two countries will collaborate to take use of their complementary strengths in vast global networks.
And facilitate efficient information sharing in third-party marketplaces for cooperation between Chinese and French businesses.
