China-France and China-EU trade warm spring is coming
During the visits of French President Macron and European Commission President Von der Leyen to China, Chinese and French companies signed a number of large orders. The warm spring of China-France and China-EU trade may be coming.
Cooperation in many fields
According to reports, on April 6, the heads of state of China and France jointly witnessed the signing of a number of cooperation documents in the fields of agriculture, food, science and technology, aviation, civil nuclear energy, sustainable development, and culture.
Aviation: French aircraft manufacturer Airbus announced on the same day that it signed a bulk purchase agreement with China for 160 aircraft, with a total value of about 20 billion U.S. dollars, and will build a second production line in Tianjin to produce up to 75 aircraft per month by 2026.
Nuclear energy: EDF has renewed a global cooperation agreement with China General Nuclear Power Group that has been in effect since 2007, covering the design, construction and operation of nuclear power plants. According to the agreement, the company and CGNPC jointly built the world’s first European Pressurized Water Reactor (EPR) third-generation nuclear power unit project in Guangdong.
Biofuels: CMA CGM will cooperate with COSCO and SIPG to develop biofuels. Rodolphe Saade, chief executive of the company, said in an interview that the company has reached new agreements in China for the supply of biomethanol and e-methanol, and signed a deal to build new ships in China.
Environmental protection: In addition, the French waste and sewage treatment giant Suez Group signed a seawater desalination cooperation project with a Chemical Group and China Railway Shanghai Engineering Bureau Group to further expand the cooperation among the three parties in the field of environmental protection.
Agriculture: The French pork industry has received 15 new authorizations to export more products to China.
Culture/Science: The governments of China and France have also signed cooperation agreements in the fields of culture and science. For example, on the occasion of the 60th anniversary of the establishment of diplomatic relations between the two countries in 2024, China and France will hold the China-France Culture and Tourism Year.
Increased space for cooperation
In recent years, China-French economic and trade exchanges have been close. According to official data, the bilateral trade volume between China and France will reach 541.67 billion yuan in 2022, accounting for 9% of the total trade volume between China and Europe. The director of the European Institute of the China Institute of International Studies, said that the above-mentioned cooperation between China and France is based on the basis of the previous economic and trade cooperation between the two sides, and also focuses on the respective economic and social development directions of the two sides. In aspects such as green energy and digital economy, the two sides will have more and more room for cooperation in the future.
China-EU economic and trade cooperation is heating up
Chinese Foreign Ministry spokesman Mao revealed that almost every week China and European countries hold political consultations with the Ministry of Foreign Affairs in Beijing to prepare for frequent high-level interactions between China and Europe in the next stage. Dozens of European business leaders attended this year’s China Development Forum, expressing their confidence and expectations in investing in China. Analysts believe that China-France and China-EU economic and trade cooperation has entered a “warm spring”. The second is that at a time when the overall world economy is in a downturn, China, whose economy is recovering at an accelerated pace, represents an opportunity not to be missed for global investors.
The accelerated recovery of China’s economy will drive the growth of the world economy
Recently, a number of international organizations and institutions believe that the accelerated recovery of China’s economy will drive the acceleration of regional and even world economic growth. For example, the Asian Development Bank stated in its latest report that the rapid recovery of China’s economy will provide support for the growth of product exports in the Asia-Pacific region, promote regional trade and tourism, and inject stronger impetus into economic growth. The report predicts that the economic growth rate of economies in the Asia-Pacific region may increase to 4.8% this year and next, higher than the 4.2% in 2022. Global trade also appears to be warming up with China’s policy adjustments. According to the latest forecast of the WTO, global trade in goods will grow by 1.7% in 2023, higher than the 1% forecast last October.
