Strengthening Bilateral Ties

During a Sino-French economic and financial forum in Beijing, Chinese Vice Premier He Lifeng expressed China's desire to deepen cooperation with France in various sectors, including finance, trade, science, and technological innovations. He emphasized the importance of the bilateral ties between China and France and expressed hope for their continued strengthening. Additionally, he urged France to contribute to improving China's relations with the European Union.

Addressing Challenges Together

French Economy Minister Bruno Le Maire highlighted three key challenges that both countries need to address together: ecological transition, reorganization of value chains, and technological revolution. He also raised concerns about market access for French companies in sectors such as banking, nuclear energy, cosmetics, and agriculture. Le Maire emphasized the importance of expanding and deepening cooperation between France and China, expressing the willingness to explore new areas of collaboration.

Welcoming Chinese Investors

Le Maire made it clear that Chinese investors are welcome in France, particularly in the fields of electric vehicles, batteries, and energy transition. He cited successful examples of Chinese investment in France, such as the partnership between Chinese company XTC and French nuclear giant Orano in Dunkirk's battery industry, as well as the battery factory established by Sino-Japanese company Envision in Douai. However, he cautioned that major Chinese investments in France should be evaluated based on their involvement in areas of sovereignty.

Wide-Ranging Dialogue

The dialogue between France and China covered a wide range of topics, including global financial stability, sustainable financing for developing economies, climate change, food security, and biodiversity. France also raised the issue of rebalancing the economic relationship, as France's trade deficit with China reached nearly 54 billion euros in 2022.

Commitment to Engagement

Despite the complexities in the relationship between France and China, French President Emmanuel Macron's government has been pursuing a policy of "en même temps," aiming to preserve economic interests while reducing dependence on China. The visit of Bruno Le Maire to Beijing for the high-level economic and financial dialogue demonstrates France's commitment to engaging with China and seeking mutually beneficial cooperation. France remains dedicated to expanding and deepening cooperation with China, despite concerns about economic rivalry and market access.

Words of the day

Bilateral : Bilatéral

Sovereignty : Souveraineté