Set a new example of mutual benefit and win-win cooperation

Europe is committed to its integration process. No matter what may change in the international arena, China's support to the EU will remain unchanged. We support Europe in seeking greater strength through unity and a bigger role played by the EU in international affairs. We also hope the EU will continue to understand and support the development path chosen by China that suits its own national conditions and continue to respect and accommodate China's core interests.

We live in the age of new technology revolution and industrial transformation. Both China and Europe are at a critical development stage and are faced with the common task of maintaining growth, readjusting structure and creating more jobs. To deepen the results-oriented cooperation is an objective need for both sides and both face rare opportunities in doing so. There is an old saying in China which goes, "You will surely see water coming out if you really dig deep enough". We should indeed tap deeper into our cooperation potential the way we dig a well. Along that line, let me make the following proposals:

First, we should make a "grand strategy" to promote growth in trade. China and Europe together account for one third of the world economy, but our trade makes a mere 1.5 percent of global trade. Although we cannot simply draw a comparison between these two figures, this does speak to the huge potential of growth of bilateral trade. Such a potential is not just about larger scale but also about improved structure. Therefore, we need to make good planning in order to increase both the scale and quality of trade. During my current visit, our two business communities have concluded some $10 billion of agreements, which include both trade of products and technical cooperation between the two sides. We have taken note of Europe's plan to invest 50 billion euros in the building of transport, energy and digital networks. We hope that the European side will favorably consider using Chinese equipment in high-speed railway, nuclear power and other projects, as our equipment is low in cost but high in quality. We have long expressed concern over the issue of European high-tech exports to China, and we hope that the European side will give China fair treatment in effecting the upcoming reform of its export control regime. China and Europe should jointly oppose trade protectionism of all forms. We are ready to conduct consultations with the EU in search of an early consensus on the case of wireless communications equipment. The establishment of a China-EU free trade area will be a significant step for upgrading two-way trade, and the two sides may launch feasibility studies on it at an earlier date.

Second, we should take bilateral investment onto the "fast track". Investment cooperation is the manifestation of the strategic nature of China-EU relations. China and Europe should seize the favorable opportunities, build on the strong momentum of investment growth, and support their companies in expanding investment in such areas as industrial development and industrial parks. The early conclusion of a China-Europe investment agreement will provide strong guarantee for mutual investment. The two sides need to speed up the negotiation process and work for early outcomes. We hope that the European side will create a more equitable and transparent business environment for Chinese companies investing in Europe, and provide China with more facilitations on market access, entry visa, work permit and other issues. China and Europe may also work together to explore market opportunities in third countries through joint investment and other means in order to deliver benefits to all sides.