China’s Vice Premier He Lifeng and French Economy and Finance Minister Bruno Le Maire recently participated in the China-France Economic and Financial Dialogue held in Beijing. The dialogue aimed to strengthen the economic and financial ties between the two countries and discuss various issues of mutual interest.
During the dialogue, China expressed its hope that France would play a role in stabilizing the European Union (EU)-China relations. As European leaders discuss strategies to manage risk while collaborating with China, China believes that France’s involvement could help stabilize the situation.
China also expressed its willingness to deepen cooperation with France in several key areas, including finance, science, and technological innovation. Both countries acknowledged the importance of working together on the green transition, reorganizing value chains, and embracing the technological revolution.
In light of the growing rivalry between the United States and China, French firms have expressed concerns about getting caught in the crossfire. As European Union governments approved sanctions against Russia, which could potentially affect Chinese firms, France emphasized the need to reinforce economic and financial operations with China by setting a “deadline of the end of 2024”.
During the dialogue, market access issues for French companies were also discussed. Sectors such as banking, nuclear, cosmetics, and agriculture were highlighted, and efforts were made to address barriers and enhance cooperation.
France warmly welcomed major new investments from China, recognizing the potential opportunities they could bring. Both countries noted the progress made in various sectors, including cosmetics, aerospace, food and beverages, and finance.
China appreciated France’s decision to extend Huawei’s 5G licenses in certain cities, demonstrating their mutual understanding and support for technological advancements.
The China-France Economic and Financial Dialogue served as a platform for both countries to address challenges and inject stability into an increasingly uncertain world. The meeting emphasized the importance of collaboration, cooperation, and finding common ground in shaping the future of their bilateral relations.
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