Minister of Commerce: China to Send Trade and Investment Delegations to Europe

According to CCTV, China will organize enterprise delegations to make investments and acquisitions in Europe, Chinese Minister of Commerce Chen Deming said on March 3.

Chen said, "Over 200 entrepreneurs have made tours to four countries and have been warmly welcomed by European enterprises. Generally speaking, procurements have been successful. The procurement-related figures released so far signify only the first step."

Chinese entrepreneurs have signed agreements totaling 13 billion USD in Germany, Switzerland, Spain and the UK. Chen said European enterprises own advanced technologies and products in many fields, which are necessary for China's industry upgrades and economic restructuring. They are also the focus of procurements. In addition to purchasing technologies and products, Chinese and European enterprises have also launched talks on a wide range of trade and investment cooperation opportunities for the future.

Chen added, "We will assign expert groups later to negotiate technical conditions for important large-size equipment and special projects. In addition, by this weekend, we will designate a special delegation that aims to make investments and acquisitions in Europe. The visit will focus on establishing which European enterprises are worth investment through equity participation and joint ventures."

By People's Daily Online