“As both France and China are facing the task of transforming their pattern of economic growth, the two countries have huge potential to cooperate in sectors like high-tech, energy saving, emission reduction, and green economy,” said Jean-Pierre Raffarin, the former French Prime Minister, on April 14 in Beijing.
He made the remarks at the 17th China-France Economic Seminar along with a delegation of French business people.
Cooperation between China and France has already expanded to finance, clean energy, environmental protection, and low carbon technology, from more traditional sectors like nuclear energy, aviation and railway. Now, the two countries are working together for green cooperation.
Green cooperation between the two countries has been a focus for some time. China has pledged to carry out a green push over the next five years. The country will seek to reduce carbon emissions per unit of gross domestic product by 17 percent in the 2011-2015 period.
Nowadays, China wants to go green on the roads. It is aiming for annual sales of 1 million units of new energy cars by 2015. Under the country’s latest plan for the auto industry, new energy vehicles will be the top priority.
Mr. Gregoire Olivier, the CEO of PSA Peugeot Citro?n Asia Division, recently told the media about PSA’s strategy in China, including enhancing R&D. “We have already set up a R&D center in Shanghai, which is aimed at developing products tailored specifically to the Chinese market, including hybrid vehicles.”
China and France have also deepened cooperation in the civilian nuclear power sector. Last November, the AREVA group signed a long-term contract for the supply of 20,000 tons of uranium over a 10-year period, with its two strategic partners, China Guangdong Nuclear Power Corp (CGNPC) and China National Nuclear Corporation (CNNC). The contract is worth around US$3.5 billion dollars.
Schneider Electric is also committed to promoting China’s PV market through advantages in technology and experience. “In the future, China will focus on promoting the development of new industries with strategic importance, and achieving economic growth through sustainable development. As a global specialist in the energy management, Schneider Electric, in answer to China’s call, will invest more in key industries and devote more resources to technology development and innovation,” said Jean-Pascal Tricoire, President and CEO of Schneider Electric.
The two countries have seen continuous growth in bilateral trade and investment, but there still is great potential given their sizable economic scales and markets, said Zhou Tienong, Vice Chairman of the Standing Committee of the National People’s Congress (NPC). He hoped France would expand the market and enhance cooperation with China, especially in the field of hi-tech.
To adapt to newly emerging consumption patterns and needs, enterprises in the two countries should transform their respective development strategies and cooperation patterns, said Zhang Wei, Vice President of the China Council for the Promotion of International Trade (CCPIT). He hoped that China and France can foster new cooperation by taking advantage of the opportunities and challenges they will face together.
Statistics show that bilateral trade hit US$44.8 billion in 2010, up 30% year on year. During the first two months of this year, bilateral trade reached US$7.32 billion, among which, China’s exports from France amounted to US$3.21 billion, up 45.8% year on year.
Up to now, France has invested in more than 4,000 projects in China, with total investment of over US$10 billion. In addition, nearly 100 Chinese enterprises have been doing business in France through greenfiled investment, joint-stock, mergers and acquisitions, etc. Now, China has become France’s 10th largest investment source, with total investment of nearly US$1.5 billion.