He noted that China is the biggest developing nation, while EU is the biggest union of developed countries. There are still great potential for the comprehensive cooperation which will be turned into reality in the new year.

Almost all the newspapers in Beijing front-paged the news that "the first day euro circulates" here Wednesday.

China's commercial banks began to launch the money-exchanging service on the second day of the new year.

Chinese people's enthusiasm towards euro indicates that the cooperative relations between China and EU countries was increasingly enhanced.

"The relations between EU and China was pretty good last year, and we believe it will get better in 2002," said Dr. Klaus Ebermann, ambassador of the European Union to China.

In recent years, the two sides had carried out coordination in the areas such as economic development, human resources, and environment protection. EU is the third largest trade partner for China, while China ranks the fourth in trade volume for EU.

Experts held, the circulation of euro will facilitate the bilateral trade, and create more chances for Chinese enterprises. China's entry into WTO will also help improve the comprehensive cooperation with EU in different areas.

Cooperation in personnel training and education have won special attention recently. One example is the China European International Business School (CEIBS) in Shanghai, which tops the business school list in Asia and Pacific region. The annual several hundred graduates from the school joined the work force in China as well as EU countries.

EU intended to train 2,000 qualified employees within 5 years with 15.1 million euros of sponsorship. Up to now, 500 people from 55 EU joint ventures have been trained since the program started 2 years ago.

China maintained over 7 percent of economic growth when the world economy slumps in 2001. Many of the European companies look forward to cooperate with China, said Ebermann.

He noted, China's entry into WTO will speed up its restructuring reforms to meet the international standard. China's steady economic development, more open market, and the improving investment environment will help increase investors' confidence.

Many high-technology companies from EU invested in China in response to China's strategy of "developing the nation with science and technology".

The year of 2002 marks the consolidation phase of the civil aviation cooperation between China and EU. EU will increase aid in aviation worthiness, flight standard, production management, customer support, air traffic control and other aspects.

Last year, over 300,000 Chinese people went to Europe. The number will see a growth this year as more European countries will win Approved Destination Status (ADS).

Ebermann said, new year marks a new start. EU will further promote the environmental cooperation with China, involving improvement of the quality of air and water and increase of the energy efficiency.

He noted that China is the biggest developing nation, while EU is the biggest union of developed countries. There are still great potential for the comprehensive cooperation which will be turned into reality in the new year.

(People's Daily January 3, 2002)