Spotlight: Chinese premier's Europe visit sets new stage for bilateral cooperation

Chinese Premier Li Keqiang's just-concluded visit to Europe has set a new stage for China-Europe cooperation, with strengthened commitment to a wide range of areas including development strategies, climate change, exploration of third-party markets and cooperation in traditional areas.

During his stay in Europe, Li co-chaired the 17th China-EU Leaders' Meeting in Brussels. There he met with leaders of the European Council and Belgium, and then visited France and the Paris-based Organization for Economic Cooperation and Development (OECD).

ALIGNMENT OF DEVELOPMENT STRATEGIES

China and the European Union (EU) decided to integrate China's "Belt and Road" initiative with the Investment Plan for Europe and establish a China-EU joint investment fund, Li said at the 17th China-EU Leaders' Meeting held Monday in Brussels.

The "Belt and Road" initiative was proposed by Chinese President Xi Jinping in 2013 with the aim to revive the ancient trade route between Asia and Europe. The Investment Plan for Europe is a 315-billion-euro (352-billion-U.S.-dollar) plan initiated by European Commission President Jean-Claude Juncker to boost the European economy.

The two economic giants also expressed interest in linking the European Fund for Strategic Investments (EFSI), known as the Juncker Plan, with an international production capacity cooperation plan championed by Premier Li.

Li suggested combining China's comparative advantages in production capacity and equipment manufacturing with the advanced technology of European economies.

The alignment comes as both China and Europe are facing the tasks of maintaining a steady economic growth and optimizing their economic structure.

It will couple China's well-established industrial system with the development needs of developing countries and the export needs of developed ones, and thus achieve all-win results, Li explained.

COMBATING CLIMATE CHANGE

Following the China-EU Leaders' Meeting, the two sides pledged in a joint statement to deepen practical cooperation in the uphill battle against climate change.

China and the EU agreed to promote cooperation on climate change and develop a cost-effective, low-carbon economy while maintaining robust economic growth, according to the statement.

The two sides will establish low-carbon partnerships between cities of both sides, promote dialogue and cooperation on their domestic mitigation policies for climate change and enhance collaboration on climate-related scientific research and technology innovation.

Recently, China has promised to peak its carbon dioxide emissions around 2030, and is striving to reach the peak at an even earlier date and increase the share of non-fossil fuels to around 20 percent in primary energy consumption by 2030.

The transition to a low-carbon economy is a fantastic opportunity to stimulate growth and build dynamic new industries while improving citizens' quality of life, said EU Commissioner for Climate Action and Energy Miguel Arias Canete.

"Tackling climate change can be a win-win situation for everyone if we act now and seize the opportunity," the official said.

THIRD-PARTY MARKETS

During his five-day trip to Europe, Li on several occasions called for strengthened cooperation in exploring third-party markets.

China is willing to carry out trilateral international production capacity cooperation with Belgium as well as cooperation in the equipment manufacturing industry in places like Africa, in a bid to boost the pace of industrialization in local communities, Li said after talks with Belgian Prime Minister Charles Michel.

Echoing Li's call, Michel said cooperating with a third party together with China not only benefits Belgium and China, but also matters to the recovery of the European economy.

While visiting France, Li said the two countries should deepen financial cooperation to provide support for exploring third-party markets during his meeting with French counterpart Manuel Valls, who also recognized the importance of China-France interaction in the field of trilateral cooperation.

TRADITIONAL COOPERATION

In addition to cooperation in new areas, China and Europe expanded their cooperation in traditional areas.

In a joint statement, China and France announced they would deepen civil nuclear energy cooperation during Li's visit to the European heavyweight.

China and France stand ready to expand their partnership in civil nuclear energy to more areas, including related scientific research and nuclear safety, the statement said.

China also signed a deal with France on purchasing 45 Airbus A330 passenger planes.

"China is today the most important market for aviation in the world, we can be confident that air transport in China will continue to undergo rapid growth," Airbus CEO Fabrice Bregier said in a statement, welcoming the deal, which is among the highlights of the Chinese premier's first official visit to France since he took office. Endi