France signs deals with China but warns against ‘pillaging’
Chinese President Xi Jinping and his French counterpart Emmanuel Macron oversaw the signing Tuesday of business deals worth billions of dollars, seeking better trade ties even as France’s finance minister boasted of rejecting those investments he likened to “pillaging”.
The two sides signed deals in the nuclear, aviation and other key sectors on the second day of Macron’s first state visit to China, AFP wrote.
Macron, who has positioned himself as the leading voice of the European Union, came to Beijing to discuss an ambitious agenda with Xi, the most powerful Chinese leader in decades.
“We are at a crucial point in the world,” Macron said alongside Xi after overseeing the signing ceremony, pointing to the common challenges presented by climate change and terrorism.
Xi said the two countries would “work hand-in-hand” and hold more high-level talks on trade. He also welcomed Macron’s endorsement of his cherished One Belt, One Road project, a $1 trillion revival of ancient Silk Road land and sea trading routes.
The deals included a memorandum of understanding for French energy giant Areva and Chinese counterpart CNNC to build a 10 billion euro ($12 billion) nuclear spent fuel reprocessing plant in China.
European aerospace giant Airbus announced an agreement with Chinese partners to increase production of its A320 jet in Tianjin to six aircraft per month.
‘Pillaging investments’
French Finance Minister Bruno Le Maire, who traveled with Macron, told reporters he has rejected “many” Chinese projects in France.
“We accept long-term investments, not pillaging investments,” Le Maire said.
In a keynote speech on Monday, Macron urged the EU to take part in Xi’s Silk Road initiative, though he warned that it should not create a “new hegemony” for Beijing.