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Room for China-EU investment to expand
Source: Xinhua |
September 14, 2010, Tuesday
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Print Edition
Print Edition
CHINA and the European Union have the potential for a substantial increase in bilateral investment as the current level of investments has failed to satisfy either side, officials said.
EU investment in China only accounts for 2-3 percent of its global investments, said Serge Abou, EU Ambassador to China, while speaking at a conference of the EU-China business partnership held yesterday at the Belgium Pavilion at the World Expo in Shanghai.
"We cannot be satisfied with the figures, given that China is a special partner with the EU and that China accounts for 7-8 percent of the world's economy," Abou said.
Meanwhile, China's investment, excluding financial investment, in the EU was also small, accounting for only about 1 percent of the total foreign investment, Abou noted.
Liu Yajun, director of the Foreign Investment Department in China's Ministry of Commerce, said the EU has brought quality investment over the years to China in areas such as telecommunications, medicine, nuclear power and railway transport.
"This has helped the development of China's economy and industries. It has also promoted employment," Liu said, but he agreed that the EU's investment in China has much more room to grow.
Abou said stringent legislature and quality standards in Europe were perhaps important reasons for the EU not being attractive to Chinese investors, but he said the continent was open to investment.
As China seeks to shift its economic growth pattern toward a greener and sustainable one, Liu said it would welcome EU investments in high-tech, services and energy saving industries.
Liu also encouraged European firms to invest in China's vast central and western regions in line with China's strategy to develop the west.
EU investment in China only accounts for 2-3 percent of its global investments, said Serge Abou, EU Ambassador to China, while speaking at a conference of the EU-China business partnership held yesterday at the Belgium Pavilion at the World Expo in Shanghai.
"We cannot be satisfied with the figures, given that China is a special partner with the EU and that China accounts for 7-8 percent of the world's economy," Abou said.
Meanwhile, China's investment, excluding financial investment, in the EU was also small, accounting for only about 1 percent of the total foreign investment, Abou noted.
Liu Yajun, director of the Foreign Investment Department in China's Ministry of Commerce, said the EU has brought quality investment over the years to China in areas such as telecommunications, medicine, nuclear power and railway transport.
"This has helped the development of China's economy and industries. It has also promoted employment," Liu said, but he agreed that the EU's investment in China has much more room to grow.
Abou said stringent legislature and quality standards in Europe were perhaps important reasons for the EU not being attractive to Chinese investors, but he said the continent was open to investment.
As China seeks to shift its economic growth pattern toward a greener and sustainable one, Liu said it would welcome EU investments in high-tech, services and energy saving industries.
Liu also encouraged European firms to invest in China's vast central and western regions in line with China's strategy to develop the west.
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