EU-China Business Summit 2013 back to events


Date: 21/11/2013 - 21/11/2013
Where: Great Hall of the People, Beijing
Type: FCCC events
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The ninth China-EU Business Summit was held in Beijing on November 21, attended by Chinese and European businesspeople. The Summit was organized by the European Union Chamber of Commerce in China and CCPIT, under the patronage of the European Commission and MofCom, and with the collaboration of EU-China Business Association – for which the Flanders-China Chamber of Commerce (FCCC) is in charge of the Secretariat General and was represented by Mrs Gwenn Sonck – and BUSINESSEUROPE.

 

Jiang Yafei, Vice President of Huawei Technologies, said: “China and the EU are important trading partners, but the full potential of two-way investment has yet to be realized. The two have a lot to gain in working together on technology. We hope China and the EU can improve the way they work together in areas such as mobile internet, cloud computing and big data.” Markus Borchert, President of Nokia Solutions and Networks in China, said China is moving away from its image as a country of low costs to a country known for its innovation. In the first 10 months of this year, the EU’s direct investment in China’s non-financial sectors was USD6.4 billion, an increase of 22.26% year-on-year, the Ministry of Commerce (MOFCOM) said. Between January and October, China’s non-financial direct investment in the EU stood at USD3.04 billion, 92.4% higher than in the corresponding period last year. The EU is also an important source of China’s technology imports. In the first nine months of this year, China imported USD10.78 billion in technology from the EU, the China Daily reports.

 

The 16th China-EU leaders’ meeting was also held in Beijing on November 21, including European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso and Chinese Premier Li Keqiang. China and the European Union announced a grand plan for cooperation until 2020 and started talks on an investment agreement, mapping out the blueprint for the key relationship in the coming years. They also vowed to discuss the feasibility of a free trade agreement (FTA) and set the target for the bilateral trade volume in 2020 at USD1 trillion, nearly doubling the USD546 billion recorded in 2012. Premier Li Keqiang said of the China-EU 2020 Strategic Agenda: “The plan is unprecedented in its breadth of content, ranging from aerospace and counter-piracy to urbanization and energy.” President Van Rompuy told reporters that the two sides have made “a substantial step forward by launching negotiations on an investment agreement, covering both investment protection and market access”.

 

China and the European Union should foster new growth areas in cooperation, President Xi Jinping told EU leaders as they met one day before the China-EU summit. Xi also called on the EU to offer more convenience to Chinese investors. The summit was the first between leaders of the two sides after China’s leadership transition in March. Areas singled out by Xi for cooperation include urbanization, innovation, aeronautics and astronautics. The 16th China-EU summit was held as the two sides celebrated the 10th anniversary of the Comprehensive Strategic Partnership.