China-EU economic ties boosted in 2010, great potential ahead

%3CP%3E%3CFONT%20face%3DVerdana%3EAs%20Europe%20continued%20its%20recovery%20from%20the%20global%20economic%20crisis%2C%20China-EU%20economic%20and%20trade%20relations%20were%20further%20boosted%20in%202010.%20Despite%20trade%20frictions%20and%20disputes%2C%20officials%20and%20businesses%20saw%20great%20potential%20in%20future%20ties.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ETRADE%20TIES%20ADVANCED%20TO%20PRE-CRISIS%20LEVEL%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELatest%20data%20from%20EU%20statistical%20bureau%20Eurostat%20showed%20that%20from%20January%20to%20September%2C%20the%20EU%27s%20exports%20to%20China%20reached%2082.3%20billion%20euros%20%28107.8%20billion%20U.S.%20dollars%29%2C%20up%20by%2039%20percent%20compared%20with%20the%20same%20period%20in%202009.%20And%20the%20EU%27s%20imports%20from%20China%20grew%20by%2030%20percent%2C%20standing%20at%20204.5%20%28267.8%20billion%20dollars%29%20billion%20euros.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAccording%20to%20statistics%20from%20China%2C%20during%20the%20first%2010%20months%20of%20this%20year%2C%20China-EU%20trade%20reached%20433.9%20billion%20U.S.%20dollars%2C%20gaining%20by%2033%20percent%20compared%20with%20the%20corresponding%20period%20of%202009.%20The%20figure%20is%2010%20percent%20higher%20than%20that%20of%20the%20same%20period%20in%202008%2C%20before%20the%20international%20financial%20crisis%20broke%20out.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBesides%20the%20increase%20in%20trade%2C%20two-way%20investment%20also%20grew%20steadily%20in%20volume%20and%20expanded%20to%20various%20sectors.%20China%27s%20statistics%20showed%20that%20the%20EU%20invested%205.1%20billion%20dollars%20in%20China%20in%20the%20first%2010%20months%20this%20year.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EEU%20businesses%20are%20widening%20their%20investment%20from%20the%20traditional%20manufacturing%20sector%20to%20such%20sectors%20as%20service%20and%20risk%20investments.%20China%27s%20direct%20investment%20in%20Europe%20grew%20by%20more%20than%20five%20times%20in%20the%20first%20three%20quarters%20of%20this%20year%20and%20more%20Chinese%20companies%20are%20looking%20to%20invest%20in%20Europe.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESong%20Zhe%2C%20head%20of%20the%20Chinese%20mission%20to%20the%20EU%2C%20attributed%20the%20notable%20increase%20in%20bilateral%20trade%20and%20investment%20to%20the%20economic%20complementarity%20of%20the%20two%20sides.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Although%20the%20shadow%20of%20the%20international%20financial%20crisis%20has%20never%20left%20us%20and%20the%20world%20on%20the%20whole%20is%20still%20going%20through%20a%20slow%20recovery%2C%20the%20economic%20complementarity%2C%20mutual%20benefit%2C%20and%20win-win%20progress%20between%20China%20and%20Europe%20have%20constituted%20an%20important%20basis%20for%20the%20fast%20growth%20and%20achievements%20of%20our%20economic%20and%20trade%20cooperation%2C%22%20Song%20told%20the%20European%20Parliament%20in%20earlier%20December.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHe%20said%20close%20communication%20and%20strong%20policy%20coordination%20to%20maintain%20open%20markets%20also%20played%20an%20important%20part%20in%20the%20advancing%20of%20bilateral%20economic%20ties%2C%20citing%20the%2013th%20China-EU%20Summit%20and%20the%206th%20China-EU%20Business%20Summit%20in%20October%20as%20an%20example.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EGREAT%20POTENTIAL%20AHEAD%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EDuring%20the%20business%20summit%20held%20in%20Brussels%2C%20business%20leaders%20from%20both%20sides%20saw%20great%20potential%20in%20further%20advancing%20their%20economic%20ties.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWan%20Jifei%2C%20chairman%20of%20the%20China%20Council%20for%20the%20Promotion%20of%20International%20Trade%20%28CCPIT%29%2C%20said%20during%20the%20business%20summit%20that%20China%20and%20Europe%20had%20entered%20a%20new%20era%20of%20trade%20cooperation%20with%20great%20prospects%20for%20further%20expansion%20after%20decades%20of%20efforts.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Europe%20is%20important%20to%20an%20emerging%20economy%20like%20China%2C%20which%20is%20in%20a%20crucial%20economic%20transformation%20period%20trying%20to%20readjust%20its%20industrial%20set-up%20and%20foster%20the%20development%20of%20high-tech%20and%20high%20value-added%20industries%2C%22%20Wan%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBernard%20Dewit%2C%20chairman%20of%20Belgian%20Chinese%20Chamber%20of%20Commerce%2C%20told%20Xinhua%20during%20the%20business%20summit%20that%20he%20looked%20forward%20to%20the%20expanding%20of%20economic%20ties%20between%20Europe%20and%20China.%20Dewit%20hoped%20more%20and%20more%20Chinese%20companies%20would%20come%20to%20Europe%2C%20opening%20the%20European%20market%20for%20their%20products%20and%20creating%20more%20jobs%20for%20Europeans.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESong%20also%20said%20China%27s%2012th%20Five-Year%20Plan%20%282011-15%29%20would%20offer%20great%20opportunities%20for%20businesses%20in%20Europe%20and%20China.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EEurope%20could%20make%20advantage%20of%20China%27s%20enlarged%20consumer%20market%2C%20adjustment%20of%20industrial%20structure%2C%20commitment%20to%20developing%20green%20economy%2C%20and%20China%27s%20science%20and%20technology%20advancement%2C%20the%20ambassador%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECHALLENGES%20REMAIN%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWith%20the%20deepening%20of%20economic%20ties%2C%20China-EU%20trade%20ties%20have%20inevitably%20seen%20frictions%20and%20disputes.%20The%20EU%20launched%20a%20number%20of%20anti-dumping%20cases%20against%20Chinese%20products%2C%20which%20China%27s%20businesses%20regarded%20as%20unfair%20and%20a%20type%20of%20trade%20protectionism.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBut%2C%20Wan%20said%20the%20two%20sides%20need%20to%20look%20at%20the%20trade%20disputes%20objectively%20and%20resort%20to%20negotiations%2C%20arbitrations%2C%20legal%20measures%20or%20a%20dispute%20settlement%20mechanism%20of%20the%20World%20Trade%20Organization%20%28WTO%29.%20Trade%20wars%20would%20be%20the%20last%20thing%20the%20two%20sides%20want%2C%20he%20stressed.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ETo%20address%20the%20challenges%2C%20Song%20suggested%20the%20two%20sides%20strengthen%20strategic%20mutual%20trust%20and%20accommodate%20each%20other%27s%20concerns.%20Both%20China%20and%20the%20EU%20should%20guard%20against%20trade%20protectionism%20and%20keep%20their%20markets%20open%2C%20he%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESong%20said%20increased%20policy%20coordination%20and%20stronger%20cooperation%20are%20also%20needed%20to%20tackle%20the%20challenges.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3C/FONT%3E%26nbsp%3B%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%3C/FONT%3E%26nbsp%3B%3C/P%3E