 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
China buying mission leaves for Europe spree: govt
Beijing (AFP) Feb 24, 2009 Chinese Commerce Minister Chen Deming left for crisis-hit Europe Tuesday at the head of a 300-strong team charged with spending billions of dollars on European products, the government said. The high-powered procurement team will visit Germany, Switzerland, Spain and Britain, according to a statement from the commerce ministry. The widely anticipated mission could end up spending 15 billion yuan (2.2 billion dollars) or "considerably" more, the China Daily reported, as officials hailed the trip as proof of Beijing's non-protectionist stance. "The Chinese government's organisation of the trade and investment mission to Europe comes as the world economy is facing recession due to the international financial crisis," said Gao Hucheng, a vice commerce minister. "It shows China's determination to open up its market and push for the revival of the world economy by strengthening cooperation with other countries in the world," he said in the ministry's statement. Officials from industry associations in the food, textile, mining and health insurance sectors were part of the delegation, the statement said. Commerce ministry spokesman Yao Jian said last week that the delegation would mainly buy technology and equipment. Xinhua news agency said the delegation would be made up of about 300 officials and business people. The China Daily cited Yao as saying that the country's demand for European goods was growing as a result of the roll-out of a four-trillion-yuan economic stimulus package that includes huge infrastructure projects. "Europe has an obvious edge in providing us with the equipment we need," he said, according to the paper. The mission also aims to strengthen China-Europe trade ties prior to President Hu Jintao's trip to the Group of 20 major economies summit, to be held in London in April, the China Daily said. The newspaper said the mission, first announced by Chinese Premier Wen Jiabao during his visit to Britain earlier this month, would showcase China's strong domestic demand and a determination to fight trade protectionism. "Chen can take a positive message to the world. China, as a major trading power, has no interest in adopting protectionism," Song Hong, a researcher at the Chinese Academy of Social Sciences think-tank, was quoted as saying. China has said it is "deeply concerned" over trade protectionism in other countries amid the global economic crisis, hitting out at the "Buy American" clause in the huge US economic stimulus package. The clause requires the use of US iron, steel and manufactured goods in public works projects funded by the bill. The European Union is China's largest trading partner, its most important source for technology imports and its largest export destination, while China is the EU's second-largest trading partner. Bilateral trade rose by 19.5 percent to 425.6 billion dollars in 2008, with China holding a trade surplus of 160 billion dollars, according to official Chinese data. In January this year, bilateral trade was impacted by the crisis, declining 18.7 percent from the same month of 2008 to 28 billion dollars, Xinhua said. Related Links The Economy
China Development Bank denies merger imminent
Shanghai (AFP) Feb 24, 2009China Development Bank said it was not about to buy into Shenzhen Development Bank, part-owned by US private equity firm Newbridge Capital, amid reports the two lenders could merge. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement |
