EU Trade Commissioner Karel De Gucht opened the ’Trade Days’ in the European Pavilion at Expo 2010 in Shanghai on July 22. The two-day event show-cased the importance of developing trade links between the EU and China. Leading European business people and international academics exchanged viewpoints on EU-China trade relations and hosted a tasting of quality traditional food products from Europe. Bonds from Spain and Greece were a good investment for China and would keep their value, Commissioner De Gucht said. He estimated that China had spent around €420 million buying Spanish and Greek bonds, but could not confirm it. “There is no risk at all to the Chinese treasury,” he said in a speech at the Shanghai World Expo. Karel De Gucht: “China is also proving a valuable market for European goods and services. In fact, China is our fastest growing export destination. In the past four years, European exports to China have gone up by 60%. In 2009 China absorbed 7.5% of EU merchandise exports – up from 2.9% ten years earlier – and has been the fastest growing market for EU exports, since trade started to recover.” He also said that China’s procurement policies in particular must become more open and transparent and that China’s “indigenous innovation” policy must not freeze European firms out of the information technology and clean energy sectors.