China, France to further cooperation on various sectors

China and France on Friday issued a joint statement following French President Emmanuel Macron's state visit to China, pledging to further bilateral cooperation on various fields.

The Chinese and French governments are willing to cooperate to solve the financial hardships of developing economies and emerging market economies, according to the statement.

The two countries will work to create a favorable business environment for enterprise cooperation, and ensure the intellectual property rights of enterprises of the two countries are respected. In the field of digital economy, including 5G, the French side promised to continue to process the licensing applications of Chinese enterprises in a fair and non-discriminatory manner, as per the statement.

Beijing and Paris will also continue to strengthen pragmatic cooperation in various fields of service industry, support institutions and enterprises to engage in economic and trade exchanges on the basis of mutual benefit. In particular, France agreed to be invited as the guest country to the China International Fair for Trade in Services in 2024.

Both sides also agreed to jointly support the airlines of the two countries to restore air connectivity to the pre-pandemic level as soon as possible, the statement said.

In terms of the shared aspiration of low-carbon transition endeavors, China and France will make further moves to carry out practical cooperation in civil nuclear energy, according to the statement.

The bilateral investment relationship between China and France has been a vital component of their economic partnership.

In 2015, the two countries signed more than 50 agreements in various sectors, including nuclear energy, aerospace, and finance. And during Macron's 2018 trip to Beijing, he announced France would sign contracts worth €13 billion ($14.23 billion) with China, covering areas such as agriculture, energy, and aeronautics. These agreements demonstrated the growing interest of French companies in the Chinese market and highlighted the potential for increased cooperation between China and France.

Since assuming the presidency in 2017, Macron has prioritized strengthening economic and cultural ties with China. He has emphasized the importance of Sino-French relationship, considering it to be "crucial" for France's economic growth and global influence. The economic ties between the two countries have continued to grow.

(Cover image via CFP)

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