国内英语资讯:Full text of Chinese Premier Lis speech at 12th China-EU business summit_时事

国内英语资讯:Full text of Chinese Premier Lis speech at 12th China-EU business summit

Looking ahead, economic and trade cooperation between China and Europe promises a broad prospect. With a medium-high growth rate of around 6.5%, the Chinese economy has entered a crucial stage of consumption and industrial upgrading, leading to growing demands for high-quality consumer goods, advanced technology and equipment and quality services from Europe. Meanwhile, improved economic performance, expanding household consumption and increased infrastructure investment in Europe will generate new opportunities for Chinese businesses. The EU' s investment in China only accounts for 4% of the EU's total overseas investment, and Chinese investment in the EU only takes up 2% of all FDI flowing to the EU. This is not commensurate with the size of the two economies and spells out enormous potential for further investment cooperation.

The economic and trade relations between China and the EU may be marked by both cooperation and competition, yet win-win cooperation is the overriding trend. Despite the expanded size of its economy, China is still at the medium and lower ends of the global value chain. The complementary and win-win nature of China-EU cooperation has remained unchanged. What has changed is only the model of such cooperation. In the past our cooperation was more or less about "invested by Europe plus made in China," which is still common today. But now we are also cooperating in the form of "invested by China plus made in Europe" and in third countries. We are also exploring new areas of cooperation such as the Belt and Road Initiative. This has expanded the areas of converging interests and deepened the interdependence between us. That said, competition also exists between China and the EU, yet competition based on common interests is not a bad thing. China and the EU need to pursue common development in the process of cooperation and competition to create deeper market connectivity and instill durable driving force into global economic development.