China expects the European Union (EU) to make "substantive" progress in a wide range of concerning issues including loosening restrictions on hi-tech goods exports, said Chinese Vice-Premier Wang Qishan.

"China is taking a proactive fiscal policy and stable currency policy, while the EU is actively taking measures to combat the debt crisis. China and the EU should strengthen cooperation to promote strong, sustainable and all-around growth for the economies of China and EU and even the global economy," said Wang.

Wang made the remarks during the opening ceremony of the Third China-EU High-level Economic and Trade Dialogue held in Beijing.

"China hopes the EU could make substantive commitment to issues including lifting bans on hi-tech goods exports, recognizing China's market economy status, protecting legitimate rights and interest of Chinese investment in the EU, and appropriately addressing Chinese investors' application for the EU visa," he said.

China is the largest trade partner and the second largest exporting nation for the EU.

Wang said China and the EU could tap the cooperative potential in sectors of new energy, new material, energy saving and environment protection.

But the EU has been more aggressive in taking trade protectionism against China while the debt crisis is set to be spreading. According to the Ministry of Commerce, during the first 10 months, the EU initiated 10 trade remedy cases against China, outnumbering the total for 2009, and the value involved in the 10 cases were $4.74 billion, 5.5 times of the total last year.

"We need to jointly resist trade protectionism, advancing Doha round talks for balanced and all-round success," Wang said.

Go to Forum >>0 Comments