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Chinese Europe Buying Trip Creates a Win-win Situation
Anchor:
China's decision to send a business delegation to purchase goods from Europe is expected to create a win-win situation for both sides amid the global econoimc downturn.
Items on the shopping list range from hi-tech equipment to environmental protection products, which will total more than 15 billion yuan, or more than 2 billion U.S. Dollars.
Zhang Cheng has more.
Reporter:
Premier Wen Jiabao first announced the plan to send "procurement teams" to buy goods and services from Europe during his visit to the UK early this month.
Ministry of Commerce spokesman Yao Jian stresses the significance of this trip to promote China-Europe bilateral trade cooperation in the face of the financial crisis.
"Through such an initiative in the current tightening economic environment, we want to open up markets to each other, deepen our cooperation to deal with challenges together and contribute to the revival of the global economy."
Yao Jian says that during Wen Jiabao's trip, Chinese and EU officials signed 38 agreements on the purchase of various products and this purchase trip will take in Switzerland, Germany, the United Kingdom and Spain.
Zhang Yansheng, a senior official with the National Development and Reform Commission, says this trip definitely creates a win-win situation for China and Europe.
"Group purchase would ensure a relatively lower price and higher quality of various products for Chinese buyers; at the same time, China's purchase would in a way boost the European nations' economies."
As the aftermath of global credit crunch dampens the world economy, many countries have turned to protectionist measures to protect the development of local economies.
Mei Xinyu, a senior researcher with China's Ministry of Commerce, says the country's purchase trip has undoubtedly set a good example against trade protectionism for the world.
Currently, Europe is China's largest trading partner and its top export market. Bilateral trade increased 19 percent year-on-year to 426 billion U.S. dollars last year.
China is the EU's second-largest trading partner and its fourth-largest export market. The EU exports to China were worth 72 billion euros in 2007, with the figure in the first nine months of last year rising 12 percent year-on-year.
Zhang Cheng, CRI News.
