Chinese team on European shopping trip to demonstrate trade openness

Source: Xinhua | February 26, 2009, Thursday |

Print Edition

A HIGH-level business delegation made up of Chinese officials and entrepreneurs is visiting Europe to enhance Sino-European trade and commercial ties.

The delegation will visit Germany, Switzerland, Spain and Britain.

According to previous agreements, the Chinese team will purchase advanced equipment and technology as well as key products and services worth more than 15 billion yuan (US$2.2 billion).

The move follows Chinese Premier Wen Jiabao's "tour of confidence" to Europe from January 27 to February 3, during which Wen promised to dispatch a procurement team and expand China's European imports.

The European Union (EU) is China's biggest trading partner and largest export market, while China is the second-biggest trading partner of the EU, with China-EU trade volume constituting 16.6 percent of China's total foreign trade volume.

To the European enterprises, expanding exports of advanced equipment and technology to China at the time of economic downturn will help them get out of the current predicament while meeting the market demand in China.

In the deteriorating external economic environment, there has been increasing demand within China to eliminate inefficient production and push for industrial upgrade.

In this regard, importing advanced technology and equipment from Europe is conducive to China's economic structure readjustment.

Although China has fallen victim to the global financial crisis, it has not shut the door and cordoned off foreign competitors, in the belief that trade barriers benefit no one.

While protectionism is gaining ground in some countries, China's move demonstrates that it seeks further opening and mutually beneficial trade.

Chinese Views

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Chinese team on European shopping trip to demonstrate trade openness

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