China to deepen cooperation in innovation with CEE countries

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Europe

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China will deepen cooperation in innovation with Central and Eastern Europe (CEE) countries, especially for small- and medium-sized enterprises (SMEs), said Chinese Premier Li Keqiang during a speech at the opening ceremony of the 9th Business Forum of China-CEE Countries in the Croatian city of Dubrovnik on Friday.

Cooperation on infrastructure, education and other areas with CEE countries will be enhanced, said Premier Li in his speech. Li expressed the willingness for China to strengthen cooperation on innovation in order to adapt to the diversity of the market.

Li stressed the importance of reciprocal opening-up of the market. He said China will make further efforts to facilitate trade, including simplifying customs procedures and providing green channels for the export of products from CEE countries.

Croatian Prime Minister Andrej Plenkovic said the China International Import Expo held last year brought new opportunities to all countries. Exports from CEE countries to China have increased nearly fivefold.

The Peljesac Bridge project is a model of cooperation between the EU and China and will further promote interconnection and trade between Europe and China, said Plenkovic.

Chinese Premier Li Keqiang (R, front) talks with technicians at the construction site of Peljesac Bridge being built by a Chinese consortium, April 11, 2019. /Xinhua Photo

Better-than-expected economic performance in Q1

Li said that China's economy was faced with downward pressure amid a complicated external environment last year. The economic performance, however, in the first quarter of this year was better than expected.

China will stimulate the vitality of market players to withstand possible downward pressure, Premier Li said.

The country will hold on to all-round development to promote a high-level open economy, Li said.

China's foreign trade up 3.7 percent in Q1 in 2019. /Reuters Photo

Tax cuts on a larger scale

The last three years witnessed tax reductions totaling three trillion yuan (about 447 billion U.S. dollars). This year, China will implement tax cuts on a larger scale. The country will reduce the tax burdens and fees of enterprises by two trillion yuan (about 298 billion U.S. dollars), especially for SMEs, said Premier Li.

China treats all foreign enterprises equally. Foreign enterprises registered in China, enterprises from Central and Eastern European countries included, will also enjoy the tax cuts policy, according to Premier Li.

Further tap trade potential with CEE countries

China will further tap the trade potential and optimize the trade structure. Li said the country will expand trade in agriculture, mechanical and electrical products, and promote cooperation in new modes of business.

Li stressed that the Chinese market is open, and the country will import more products, especially agricultural products, from the Central and Eastern European countries to serve the needs of its consumers.

After the forum, Premier Li, with his Croatian counterpart, jointly launched the 16+1 SME cooperation platform. Then, Li attended the exhibition on cooperation in education and met with China-CEEC business participants.

Premier Li is currently on an official visit to Croatia, and will attend the eighth leaders' meeting of China and 16 CEE countries later on Friday.