China Urges EU To Relax High-Tech Exports

"European debt crisis" and "

On the 21 day, the third China EU high level economic and trade dialogue was held in Beijing.

Vice Premier Wang Qishan said China supports the EU and the international community.

China's commerce minister Chen Deming said China is concerned about whether the European debt crisis can be controlled, especially the development of the debt crisis in the first quarter of next year.

The European side responded to the early recognition of China's market economy status.

EU economic and Monetary Affairs Commissioner Rehn also reiterated that China needs to further promote the marketization of the RMB exchange rate.

Hot words 1: European debt crisis

Wang Qishan pointed out yesterday that China not only supported the EU and IMF's financial stability policy, but also took actions to help the EU resist the sovereign debt crisis.

"EU member states have taken a series of measures to actively combat the debt crisis, and we hope that these measures will come into force soon."

The Agence France-Presse said that China had appealed for support for Greece before, and during the visit of President Hu Jintao to Portugal, news came out that China was interested in helping Portugal resist the crisis.

Portugal's business newspaper said last week that China had the intention to purchase 4 billion to 5 billion euros of Portuguese government bonds in the first quarter of next year, equivalent to 1/3 of Portugal's need for refinancing.

Moodie, one of the world's three largest rating agencies, warned Investors Service Inc 21 that it would reduce Portugal's sovereign debt rating by one to two levels.

Chen Deming said yesterday that China is concerned about whether the EU has the ability to control the debt crisis and whether the consensus of member states can be turned into practical action to lead the European Union out of difficulties.

Hot words two: high technology trade

In general speaking, the demand for European imports may decrease and the demand for exports to China will increase after the emergence of the sovereign debt crisis, said Qu Xing, director of the China Institute of international studies.

Qu Xing particularly mentioned that because of the EU arms embargo policy toward China, many European and civilian high-tech exports to China were affected.

"If the EU can see the issue from a strategic perspective and relax restrictions on such technology exports to China, it will make the trade situation between China and Europe more healthy and balanced."

In fact, the view of Qu Xing is the concern of the Chinese side.

Chen Deming pointed out yesterday that since the beginning of this year, the European Union has launched several trade surveys and trade protection measures against Chinese products. The intensity of the trade is very obvious, and Chinese enterprises are losing a lot.

Chen Deming wants the EU to relax restrictions on exports of high-tech products.

In September this year, the European Union launched three surveys on China's data cards, namely, anti-dumping, countervailing and safeguard measures, involving about 4 billion 100 million US dollars in exports of Chinese enterprises.

Chen Deming said that the two companies involved have already reached a preliminary understanding agreement and have filed an application for withdrawal from the European Commission.

China hopes that the European Commission will support cooperation between Chinese and European enterprises and terminate the three investigation as soon as possible.

Chen Deming revealed that China and Europe agreed to hold the first meeting of the China EU high tech trade working group as early as possible.

Chen Xin, director of the Economic Research Office of the European Research Institute of the Chinese Academy of Social Sciences, said that Europe is China's largest source of overseas technology, while the United States is not as open as Europe in terms of technology exports.

Hot words three: market economy status

On the Sino EU economic and trade dialogue, Reuters said that this is an opportunity to resolve Sino EU trade disputes.

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Recently, many European enterprises have accused China of not opening up the market, and foreign-funded enterprises have been treated unfairly in terms of intellectual property rights and government procurement.

In November 9th, the European Commission released a new strategy of foreign trade, entitled "trade, growth and world affairs", and proposed that a more "tough" strategy be adopted in the next 5 years to develop overseas markets for EU enterprises.

Chen Xin said that the Sino EU dialogue atmosphere is more positive, focusing on the future and long-term development, and helps to solve some controversial issues.

"The trade between China and Europe is recovering and it should be able to reach the level of 2008 by the end of the year.

It is worth noting that the amount of exports from Europe to China has begun to increase, while the US export to China is not obvious.

According to customs data, China EU bilateral trade volume reached $433 billion 900 million from 1 to November this year, up 33% over the same period last year. China has become the second largest export market of the EU, and the EU has been the largest trading partner in China for 6 years.

Chen Deming pointed out yesterday that this year's economic and trade level between China and Europe has been restored to the level before 2008. "Sino EU relations are healthy and balanced".