China and the EU to prepare investment agreements
July 18, 2011 Category Foreign investment, Weekly
China and the European Union (EU) will start negotiations on investment agreements as soon as possible, Chinese Minister of Commerce Chen Deming and EU Trade Commissioner Karel De Gucht said at a joint press conference in Beijing. In 2010, the EU invested USD6.59 billion in China, up 10.7% on 2009. The EU was the third-largest destination for Chinese investment in 2009 at USD3.35 billion. From January to June, China-EU trade grew 21.3% year-on-year to USD265.9 billion, according to the General Administration of Customs (GAC). “These are impressive figures. We can take bilateral economic relations even further by developing investment opportunities, as investment is part of the global trade picture and the global supply chain,” said De Gucht. Shifting investment to China could be a good choice for European investors to offset risks at home, said Wang Zhile, Director of the Research Center for Transnational Corporations with the Ministry of Commerce (MOFCOM). “Up to now, European investment in China has been rather limited. The EU has been investing more in other countries like Brazil, Argentina and India. So there is a lot of room for investing in China,” said De Gucht. “I welcome the important step taken by the Chinese government on cutting the links between some indigenous innovation rules and government procurement,” said De Gucht.
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