A senior Chinese trade official said Tuesday that China hopes the French government would encourage its businessmen to increase technological transfer to China.

Vice-Minister of Commerce Yu Guangzhou told Xinhua in an exclusive interview prior to Chinese President Hu Jintao's visit to France that technological cooperation will greatly boost trade and economic cooperation between China and France.

Hu is scheduled to leave Beijing for a four-nation state visit next Monday. France is the first leg of his visit.

President Hu's visit to France will "inject new vigor" to bilateral trade and economic cooperation, said Yu, who will accompany Hu on the trip.

"China is ready to strengthen cooperation with France in areas where France is advanced in the world," Yu said. "We hope the French government would encourage its enterprises to have technological cooperation with Chinese partners, and transfer more technology to China."

Transfer of technology has been an important part in the cooperation between the two countries. By the end of 2003, China had imported a total of 2,009 technological items from France, involving 10.93 billion US dollars, making France China's second largest source of technology imports among members of the EuropeanUnion.

Yu said he is confident of the future technological cooperationbetween China and France.

The products and technology where France is advanced in the world, like nuclear energy, transportation, telecommunications, aviation, agriculture, petrochemical industry and environmental protection, are also the priority areas for development set by theChinese government, according to the vice-minister.

"China needs French technology while France needs the Chinese market," Yu said. "China and France are highly complementary in economic areas and have huge potentials in cooperation."

France has taken the place of Italy as the fourth largest trading partner of China among EU members. Bilateral trade hit a record 13.39 billion US dollars in 2003, up 60.9 percent over 2002.

Yu said French products are highly competitive in the Chinese market, and China welcomes more French products and services.

Currently, French products and services well known to Chinese people range from Airbus planes, Citroen automobiles and L'Oreal cosmetics, to the Carrefour supermarket chain and the Daya Bay nuclear power station, among others.

"China welcomes those big companies to increase investment, to establish joint ventures or cooperate with Chinese companies," Yu said.

Actual French investment to China over the years amounted to 6.11 billion US dollars by November last year, making France the third largest source of direct investment in China among EU members, according to the Ministry of Commerce.

The vice-minister said the level of China-France trade and investment still does not match the level of the political ties between the two countries, both big economies and traders across the world.

There are many opportunities in China for French businesses, said Yu, citing China's efforts to build a relatively well-off society, its entry into the World Trade Organization, its strategies to develop the western areas and to rejuvenate the old industrial region in the northeast, Beijing's Olympic Games and Shanghai's hosting of the world exposition.

Close

Today's Top News		Top Business News
+WHO: Bird flu death rises to 15; vaccination recommended ( 2004-02-05) +Solana: EU ready to lift China arms embargo ( 2004-02-05) +Nation tops TV, cell phone, monitor production ( 2004-02-05) +Absence ... still makes China hot ( 2004-02-05) +Hu: Developing world in key role ( 2004-02-04)		+KFC: We operate normally in China despite bird flu outbreaks ( 2004-02-05) +Starbucks takes aim at China chain ( 2004-02-05) +Former Microsoft China chief gets new job ( 2004-02-05) +Private airline prepared for take off ( 2004-02-05) +Investors lured by call of siren ( 2004-02-05)