The European Union is China's chief trade partner, market for exports and main source of transferred technology. China, for its part, is the EU's chief source of imported goods.
Trade between China and the EU reached a total value of $567.2 billion in 2011, up more than 18 percent year-on-year, according to statistics from the Ministry of Commerce.
Saying that trade and economic exchanges are the foundation of the ties between China and the EU, Wu has pledged to promote cooperation on endeavors that European countries have a comparative advantage in, such as high-end manufacturing, aviation, the use of alternative sources of energy and energy conservation.
Wu's statement, which experts said is part of the country's attempts to bring balance to the trade conducted between China and Europe, also shows that the world's second-largest economy is seeking new opportunities for exchanges between China and the EU.
"It's China's rediscovery of European values," Feng said.
About the broadcaster:
Lee Hannon is Chief Editor at China Daily with 15-years experience in print and broadcast journalism. Born in England, Lee has traveled extensively around the world as a journalist including four years as a senior editor in Los Angeles. He now lives in Beijing and is happy to move to China and join the China Daily team.
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