Record high revenues and profits for EU businesses demonstrate China's economic vitality as well as its efforts to continuously open up the market and optimize the business environment for foreign firms, Wang Wenbin, Spokesperson for China's Foreign Ministry, said. Wang's remark came after Joerg Wuttke, President of the European Union Chamber of Commerce in China, said that EU companies are willing to make greater contributions to the high-quality development of China's economy, as the turnover and profit of member companies reached record highs in the nation in 2020. “The record highs in the turnover and profits of member companies of the European Union Chamber of Commerce in China are an epitome of the vitality of the Chinese economy and the positive effects of China's endeavor to deepen opening-up and optimizing the business environment,” Wang said. As two major independent forces in the world and each other's comprehensive strategic partner, cooperation between China and the EU, complementary, mutually beneficial and win-win in nature, has brought tangible benefits to the two peoples, Wang added.
Official data showed that China became the EU's No 1 trading partner in 2020. Bilateral trade in the first three quarters of 2021 reached USD599.3 billion, an increase of 30.4% year-on-year. Nearly 60% of European companies plan to expand their businesses in China this year, an increase of nearly 10 percentage points from 51% last year, a survey released by the European Union Chamber of Commerce in China showed in June.
China has made overall plans to promote economic and social development, and strives to create a market-oriented business environment based on the rule of law and up to international standards to provide strong guarantees for companies operating in China, Wang noted. “We will continue to improve the business environment for foreign companies, including those from the EU. We also stand ready to work with the EU side to advance connectivity, seek greater strategic synergy, boost global economic recovery and contribute to addressing global challenges,” Wang said, as reported by the Global Times.
