Ties deepen at 5th economic, financial high-level dialogue
Discussions covered more cooperation on policies, global governance, trade and investment
Senior officials from China and France moved forward discussions on economic and financial matters at the fifth China-France High-level Economic and Financial Dialogue held in December in Beijing.
With the theme of “providing new impetus for the close and enduring Sino-French economic and financial strategic partnership”, the dialogue focused on macroeconomic policy cooperation, global economic governance and reinforced trade, investment and financial collaboration.
Co-chaired by Chinese Vice-Premier Ma Kai and French Minister of Finance and Economy Bruno Le Maire, the dialogue saw a total of 71 trade and business deals, covering the automobiles, aerospace, nuclear energy, high-end manufacturing and finance sectors.
During the dialogue, delegates said the two sides will continue their free and fair trade based on the principles of mutual benefit and nondiscrimination. China and France agreed to set up a Sino-French entrepreneur committee and communications platform to improve bilateral trade, and to expand exports.
In the field of agriculture, China will approve the entry of French pork and infant formula enterprises that meet the country’s certification requirements. China will allow French products to enter the domestic feed market and simplify the market access procedures for French beef, according to a statement of the Chinese Ministry of Finance.
Delegates agreed that exportsrelated communications will be strengthened to assist high-tech trade. The two countries have attached great importance to the role of nuclear power in sustainable energy development and will discuss related plant projects more in future, said the Ministry of Finance.
It said under the framework of the Asian Infrastructure Investment Bank, the two sides agreed to strengthen cooperation and to be committed to building the AIIB into a 21st-century multilateral development bank, together with other members.
China and France will also continue to strengthen cooperation in the renewable energy sector, including wind power and solar energy, and to promote the development of the low-carbon economy, according to the ministry.
In addition, the two countries will strengthen cooperation and communications on intellectual property protection and enforcement through dialogue.
Under the two nation’s industry strategies — Made in China 2025 and France’s Industry of the Future — the two sides will work together to strengthen innovation in the advanced manufacturing industry.
“This is the first high-level intergovernmental economic and financial dialogue between the two countries after the 19th National Congress of the Communist Party of China in October, and the two heads of State’s meeting in Hamburg, Germany during the G20 summit in July 2017,” Ma said.
He called on the two countries to strengthen macroeconomic policy coordination, align development strategies, promote cooperation under the Belt and Road Initiative and improve global economic governance.
The door of China’s opening-up will not close, but open much wider in the future, Ma said.
Le Maire pledged to support the development of the Belt and Road Initiative and speed up cooperation with China. The dialogue charted the framework for the two countries’ economic cooperation, according to Le Maire.
The annual High-level Economic and Financial Dialogue between China and France was established in 2013.