China has the world's largest clean energy market and relatively low manufacturing costs. For European countries, China is a vast market with huge potential for energy cooperation.
This year, the UK, France, Germany, Italy and other EU countries joined the Asian Infrastructure Investment Bank. The EU welcomes China's participation in the Strategic Investment Plan for Europe, sending a positive signal of strengthening financial cooperation with China.
All these have created more convenient conditions for china-eu economic and trade cooperation in energy, finance and other fields. The accelerated alignment of china-eu economic and trade cooperation strategies will bring huge opportunities for the development of bilateral economic and trade relations.
The year 2015 marks the 40th anniversary of china-eu diplomatic relations. After 40 years of development, China-Eu relations have become increasingly mature and our economic and trade cooperation enjoys broad prospects.
Statistics show that the EU has been China's largest trading partner for 11 consecutive years, while China has been the EU's second largest trading partner for 12 consecutive years. In 2014, bilateral trade reached us $600 billion.
On October 19, 2015, the sixth International Capital Summit was held in Beijing with the theme of "New Normal: New Interests and New Opportunities for Growth in Energy and finance between China and the EU".
Jiang Zengwei, President of China Council for the Promotion of International Trade and President of China Chamber of International Commerce, said in his speech that the complementarity of the Chinese and European economies has long existed. The two sides will accelerate the implementation of structural reform, synergize the Belt and Road Initiative and the Investment Plan for Europe, and advance negotiations on the China-Eu Investment Agreement. All these will provide new impetus to china-eu economic and trade relations and bring more opportunities to bilateral trade and investment cooperation. China and Europe each have their own economic advantages, broad prospects for economic and trade cooperation and broad space for development in energy and finance. China Council for the Promotion of International Trade and China Chamber of International Commerce are ready to establish institutional ties with their EU counterparts to create a favorable environment and an effective platform so as to provide favorable conditions for deepening China-Eu economic and trade cooperation in energy, finance and other fields.
Energy cooperation promotes industrial upgrading
Energy cooperation is an important part of China-Eu cooperation.
Information shows that in 1997, China and the EU established a working group meeting mechanism on energy. In 2004, China and the EU signed an agreement on research and development cooperation in the peaceful USES of nuclear energy. In 2005, the China-Eu Strategic Dialogue on Energy and Transport was established. In 2009, the two sides signed the Financial Agreement and the Joint Statement of the China-Eu Clean Energy Center. The two sides will carry out technical cooperation in the international Thermonuclear Experimental Reactor Program, hydrogen energy, fuel cells, biofuels, wind power, clean coal, energy efficiency and renewable energy. In May 2012, the China-Eu High-level Energy Meeting was held in Brussels, announcing the establishment of the China-Eu Strategic Partnership for energy Consumers. In November 2013, the sixth China-Eu Energy Dialogue was held in China and the two sides signed the China-Eu Joint Statement on Energy Security.
Jiang said that the EU has accumulated rich experience and advanced technologies in developing clean energy and combating environmental pollution. China has the world's largest clean energy market and relatively low manufacturing costs, and hydropower, photovoltaic power generation and natural gas industries are developing rapidly. Companies of the two sides have great potential to strengthen energy cooperation and can also use their respective advantages to jointly develop third-party markets.
To be specific, Germany, Denmark and other European countries have strong advantages in new clean energy technologies such as solar energy, gas power and wind power. As noted above, China has the world's largest market for clean energy, and overall manufacturing costs are relatively low. Therefore, for European countries, China will be a huge market in the next few years in terms of advanced technologies and management models, improvement of energy utilization efficiency, change of energy structure and promotion of sustainable urban development.
At the same time, there have been more exchanges and cooperation projects between Chinese energy companies and their European counterparts in the field of innovation and research of new energy technologies. By providing clean energy technologies to the Chinese market, European countries can make up for China's shortcomings in new energy technologies and promote the upgrading of the new energy industry. At present, China has an increasingly strong demand for energy conservation, emission reduction and environmental governance. In particular, it needs more advanced technologies and experience to support air pollution control technologies and sustainable urban development. This will become the focus of China-Eu energy cooperation in the future. At the same time, in the field of traditional energy cooperation, such as nuclear power, China and the EU will explore more diversified ways of cooperation for win-win results.
Deepening financial Cooperation
In recent years, more and more international trade between China and Europe has begun to be settled in yuan.
Jiang said that financial cooperation is another important area of China-Eu cooperation. At present, China and the EU have established a multi-tiered monetary and financial policy coordination and dialogue mechanism, which lays a good foundation for deepening china-eu financial cooperation. The EU has made it clear that it welcomes China's participation in the Strategic Investment Plan for Europe. The fact that 14 EU countries, including the UK, France and Germany, have become founding members of the Asian Infrastructure Investment Bank shows that China and the EU can strengthen financial cooperation in a deeper and broader dimension.
It is reported that, in order to enhance investment and financial cooperation between China and the EU, China and the EU will expedite negotiations to set up a China-Eu joint investment fund this year and jointly explore the third market.
Italy was one of the first European countries to trade with China. Italy is now China's third largest source of technology import, fifth largest trading partner and fifth largest source of direct investment in the EU, while China is Italy's largest trading partner in Asia. On October 19, the Industrial and Commercial Bank of China in Italy announced the official establishment of Rome branch. The Rome branch is icbc's second branch in Italy after the Milan branch, marking a new stage of icbc's development in Italy and southern Europe. So far, ICBC has set up branches in 17 major European cities, such as London, Paris and Frankfurt, etc., and established a relatively complete business network, significantly enhancing its service capacity in the European region.
Britain is the first industrialized country in the world, the financial industry is its pillar industry, and London is one of the most important financial trading centers in the world. The UK is keen to expand overseas in renminbi and is competing with Frankfurt and Paris as an offshore centre for the Chinese currency. British Chancellor of the exchequer George Osborne is extremely optimistic about the yuan's prospects. Mr Osborne predicted that within his lifetime the renminbi would "become as important a currency as the dollar". He argued that Britain should be prepared to take advantage of London's position as an international financial centre and ride on this "car of opportunity". He also noted that a global market for the renminbi was "one of the UK's three diplomatic priorities in Asia".
Separately, the European Commission said it would encourage China to deepen cooperation with the EBRD, including further study on whether China could become a member of the bank in accordance with its relevant regulations.
The BIT range is expected to be agreed by the end of the year
While strengthening energy and financial cooperation between China and the EU, two-way investment is also on the rise. At present, the EU has become China's fourth largest source of foreign investment. The scale of China's investment in the EU has exploded, its investment methods have been constantly innovated, and its investment industry and fields have been constantly expanded. Last year, China's non-financial direct investment in the EU reached us $10 billion, surpassing the EU's non-financial direct investment in China for the first time.
However, in the process of China-Eu cooperation, there is always a lack of a programmatic document guarantee, that is, the signing of the China-eu Investment Agreement (BIT).
There is no doubt that the china-eu investment agreement negotiation is one of the most important issues in the development of China-Eu economic and trade relations. An early conclusion of a high-level investment agreement will not only enhance the level of bilateral economic and trade cooperation, but also deepen the China-Eu comprehensive strategic partnership of mutual benefit and win-win results.
Vice President Of Osborne, Jyrki Katainen, said that Europe has quite specific ideas for china-eu investment cooperation, and there is more than just "talk about it". Katainen reiterated the 17th EU-china Summit's commitment that by the end of 2015 the two sides' negotiating teams should focus on reaching agreement on the scope of the agreement and forming a consolidated text. At the same time, he repeatedly stressed that for the EU, the focus of the negotiation is China's market access, and the EU has given the BIT negotiating team full authorization to ensure fair competition opportunities for European companies in China.
The Ministry of Commerce also said that China and the EU should proceed from an overall strategic height, work together to make positive progress in the negotiations, strive to reach agreement on the scope of the agreement by the end of 2015, and form a consolidated text to achieve the goals set by the leaders of the two sides at their meeting this year.
Long Yongtu and Cheng Qingtao on China-eu Economy and Trade: Speed up the cooperation between the two sides
At present, China and The EU are in a new historical period of economic and trade cooperation.
It is because of the rapid development of china-eu trade and investment that the ICC International Capital Summit, a platform for investment and financing cooperation between Chinese and European entrepreneurs, will be held in Beijing this year.
China-eu economic and trade relations have grown in an all-round way
Referring to the development trend of China-Eu economic and trade relations, ICC Co-Chairman Long Yongtu, former secretary-general of Boao Forum for Asia, said that China and EU are investing more and more in each other and their economic and trade relations are moving towards an all-round development stage. First, The scale of Chinese investment in Europe is expanding rapidly, and the growth rate of Chinese investment in Europe is much higher than that of other regions, it concluded. Second, there are more and more diversified investment methods, such as merger and acquisition and equity participation. In particular, merger and acquisition has become an important means for Chinese enterprises to use The technology of European enterprises to expand their market share. Third, private enterprises are the main force of investment in Europe. Fourth, the proportion of investment in large projects is very high.
As a representative of the corporate world, China huayang economic and trade group co., LTD., President of ChengQingTao also confirm the view of the long yongtu, he said, in the past two years the development of Chinese enterprises in the investment present blowout, which accounted for a large private enterprises, the continuing in-depth investment continues this year, China business confidence in Europe's economy. Cheng qingtao especially talked about the European advanced energy conservation and environmental protection technology and new material technology are needed in the economic transition period of Our country.
To resolve trade frictions through consultation and negotiation
The EU has been China's largest trading partner for 11 years in a row, and two-way trade has exceeded us $500 billion for three years in a row. Last year, two-way trade reached US $559.1 billion, equivalent to over US $1.5 billion a day. With such a large bilateral trade volume, trade frictions are unavoidable in a sense.
, long yongtu said, because Europe is China's largest trading partner and fourth largest source of investment, trade and investment by construction system, and makes the sino-european cooperation between formation "sometimes-complex mix-and-match, I have you in the interests of the community," not just a one-time deal of trade, but to blend mutually of cooperation ".
As for the China-Eu Investment Agreement, Longyongtu obviously has more expectations. If the AGREEMENT can be reached, it will provide stable, transparent, predictable and open legal environment for investors from both sides and promote the growth of Chinese enterprises' investment in Europe.
As vice-chairman of the China Chamber of International Commerce, Cheng said the chamber hoped the EU would keep its market open, exercise caution in using trade remedies and properly manage trade frictions. Many industries between China and The EU have been closely linked by the global industrial chain, and sanctions against each other may harm their own interests.
As for the solution to "trade frictions", Long yongtu said that although trade and investment frictions between China and Europe are increasing, they have entered the stage of long-term institutionalization and there will be no new sanctions. China and the EU have learned to use international rules to negotiate and solve problems.
For example, on October 18, China and the EU reached a solution to the eu's anti-dumping and countervailing investigations into China's telecommunications products. The two sides reached a satisfactory result through negotiation and consultation. The previous "photovoltaic product case" and "wine trade dispute" were also resolved through negotiation.
Cheng said the chamber will continue to support Chinese companies in "going global" and will work with the chamber to speak for Chinese companies and make its voice heard. It will also strive to participate in the formulation of international rules to serve Chinese companies in "going global".
Eu issues trade and investment policy
Recently, the European commission, according to the web site published an article released on October 14, the eu's trade and investment policy document, entitled "the trade benefits all: towards a more responsible trade and investment policy, the file will be European Union trade and investment policy provides guidance for the next five years, mainly including three aspects: effectiveness, transparency, and values.
One, validity. Ensuring that trade creates new business opportunities and addresses current economic issues, including services and digital trade. At the same time, it creates ways and information for European smes, consumers and workers to fully utilize and adapt to new open markets. This means incorporating substantive provisions in future trade agreements in favour of smes.
Second, transparency. Put more trade negotiations under public scrutiny and publish important negotiating texts for all EU trade and investment negotiations. The European Union has published a new text for negotiations on the Economic Partnership for East and West Africa.
Third, values. Preserve the European social and regulatory model. Use trade agreements and preferential trade arrangements as a platform to promote European values globally on sustainable development, human rights, fair and ethical trade, and the fight against corruption. This means eu trade agreements will include anti-corruption rules and monitoring the implementation of core Labour standards provisions by EU trading partners. It also means ensuring more responsible management of the supply chain. In view of this, the eu's trade and investment policy priorities include: first, the conclusion of the current major trade negotiations, including the WTO Doha Round, eu-Japan Free Trade Agreement and eu-china Investment Agreement negotiations; Second, launch economic and trade negotiations with countries in the Asia-Pacific region, including Those with Australia, New Zealand, the Philippines and Indonesia, and further deepen the economic and trade relations between the EU and African countries. The third is to update the FREE trade agreements with Mexico and Chile and the customs union agreement with Turkey.