Editorial
Teamwork Triumphs
During a trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen in the French capital of Paris, visiting Chinese President Xi Jinping reaffirmed a simple fact: China-EU cooperation is "complementary and mutually beneficial."
Editorial  ·  2024-05-13  ·   Source: NO.20 MAY 16, 2024

During a trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen in the French capital of Paris, visiting Chinese President Xi Jinping reaffirmed a simple fact: China-EU cooperation is "complementary and mutually beneficial." This is not mere diplomatic talk, but a pertinent characterization of their relations.

Xi's trip to France, Serbia and Hungary from May 5 to 10 came at critical juncture. Some European quarters are skeptical about the benefits of economic collaboration with China. Washington is maneuvering to rally allies to "de-risk" from China. In addition, rhetoric concerning China's so-called "overcapacity" in clean energy sectors has fueled protectionism in the West.

But the facts and figures reveal the real nature of China-EU economic and trade cooperation. France serves as a case in point. Over the past 60 years of Sino-French diplomatic relations, trade between the two countries has recorded an 800-fold increase to reach $78.9 billion last year.

From 2019 to 2023, China's imports from and exports to France grew by an average of 5.9 percent annually. France is a major supplier of aircraft and aerospace components to China, accounting for some 30 percent of the country's total imports over the past five years. A 2023 survey by the French Chamber of Commerce and Industry in China found that 47 percent of member companies were planning to further invest in China in the three years to come.

During Xi's trip to France, the two countries signed about 20 documents on cooperation in areas such as green development, aviation, agrifood, commerce and people-to-people exchanges.

At the trilateral meeting with French and EU leaders, Xi rejected "overcapacity" claims. "China's new energy industry has made real progress in open competition and represents advanced production capacity," he said. China's comparative advantage helps boost global supply. Indeed, to meet the target to limit global warming, the world must drastically increase renewable power capacity.

China's sophisticated technology, coupled with its commitment to a green transition, will only contribute to making the world a better place to live in and open up new horizons for global cooperation. Protectionism does more harm than good. At a time when humanity faces daunting challenges, all nations are obligated to make the most of their abilities. A shared vision, teamwork and mutual benefit should become the order of the day.

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