Chinese Commerce Minister Chen Deming (陳德銘) left for Europe yesterday at the head of a 300-strong team charged with spending billions of dollars on European products, the government and state media said.
The procurement team, which will visit Spain, Germany, Switzerland and Britain, could end up spending 15 billion yuan (US$2.2 billion) or “considerably” more, the China Daily reported.
“The Chinese government’s organization of the trade and investment mission to Europe comes as the world economy is facing recession due to the international financial crisis,” said Gao Hucheng (高虎城), a vice commerce minister.
“It shows China’s determination to open up its market and push for the revival of the world economy by strengthening cooperation with other countries in the world,” he said in a statement on the ministry’s Web site.
DELEGATES
Officials from industry associations in the sectors of food, textile, mining and health insurance were part of the delegation, the statement said.
Commerce ministry spokesman Yao Jian (姚堅) said last week that the delegation would mainly buy technology and equipment.
Xinhua news agency said the delegation would be made up of about 300 officials and businesspeople.
The China Daily quoted Yao as saying that demand for European goods was growing as a result of the roll-out of a 4 trillion yuan economic stimulus package that includes huge infrastructure projects.
“Europe has an obvious edge in providing us with the equipment we need,” the paper quoted him as saying.
The mission also aims to strengthen China-Europe trade ties prior to President Hu Jintao’s (胡錦濤) trip to the Group of 20 Major Economies Summit, to be held in London in April, the China Daily said.
TIES
The newspaper said the mission, first announced by Chinese Premier Wen Jiabao (胡錦濤) during his visit to the UK earlier this month, would showcase China’s strong domestic demand and a determination to fight trade protectionism.
“Chen can take a positive message to the world. China, as a major trading power, has no interest in adopting protectionism,” Song Hong, a researcher at the Chinese Academy of Social Sciences think tank, was quoted as saying.
China has said it was “deeply concerned” over trade protectionism in other countries amid the global economic crisis, hitting out at the “Buy American” clause in the huge US economic stimulus package.
The clause requires the use of US iron, steel and manufactured goods in public works projects funded by the bill.
The EU is China’s largest trading partner, its most important source for technology imports and its largest export destination, while China is the EU’s second-largest trading partner.
Bilateral trade rose by 19.5 percent to US$425.6 billion last year, with China holding a trade surplus of US$160 billion, official Chinese data showed.
A Chinese freighter that allegedly snapped an undersea cable linking Taiwan proper to Penghu County is suspected of being owned by a Chinese state-run company and had docked at the ports of Kaohsiung and Keelung for three months using different names. On Tuesday last week, the Togo-flagged freighter Hong Tai 58 (宏泰58號) and its Chinese crew were detained after the Taipei-Penghu No. 3 submarine cable was severed. When the Coast Guard Administration (CGA) first attempted to detain the ship on grounds of possible sabotage, its crew said the ship’s name was Hong Tai 168, although the Automatic Identification System (AIS)
An Akizuki-class destroyer last month made the first-ever solo transit of a Japan Maritime Self-Defense Force ship through the Taiwan Strait, Japanese government officials with knowledge of the matter said yesterday. The JS Akizuki carried out a north-to-south transit through the Taiwan Strait on Feb. 5 as it sailed to the South China Sea to participate in a joint exercise with US, Australian and Philippine forces that day. The Japanese destroyer JS Sazanami in September last year made the Japan Maritime Self-Defense Force’s first-ever transit through the Taiwan Strait, but it was joined by vessels from New Zealand and Australia,
SECURITY: The purpose for giving Hong Kong and Macau residents more lenient paths to permanent residency no longer applies due to China’s policies, a source said The government is considering removing an optional path to citizenship for residents from Hong Kong and Macau, and lengthening the terms for permanent residence eligibility, a source said yesterday. In a bid to prevent the Chinese Communist Party (CCP) from infiltrating Taiwan through immigration from Hong Kong and Macau, the government could amend immigration laws for residents of the territories who currently receive preferential treatment, an official familiar with the matter speaking on condition of anonymity said. The move was part of “national security-related legislative reform,” they added. Under the amendments, arrivals from the Chinese territories would have to reside in Taiwan for
CRITICAL MOVE: TSMC’s plan to invest another US$100 billion in US chipmaking would boost Taiwan’s competitive edge in the global market, the premier said The government would ensure that the most advanced chipmaking technology stays in Taiwan while assisting Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in investing overseas, the Presidential Office said yesterday. The statement follows a joint announcement by the world’s largest contract chipmaker and US President Donald Trump on Monday that TSMC would invest an additional US$100 billion over the next four years to expand its semiconductor manufacturing operations in the US, which would include construction of three new chip fabrication plants, two advanced packaging facilities, and a research and development center. The government knew about the deal in advance and would assist, Presidential
RSS