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China will set up a $10 billion line of credit to support cooperative projects with Central and Eastern Europe 2012.04.29

Warsaw, Poland - April 26, 2012 - Visiting Chinese Premier Wen Jiabao announced the plan at a China-Central and Eastern Europe business forum here, saying it would accelerate the two sides' practical cooperation. Meanwhile, China would also establish an investment cooperation fund, the goal of which was to raise $500 million, he said. Wen started his official visit to Poland on Wednesday.

Chinese Premier Wen Jiabao speaks during at a China-Central and Eastern Europe business forum in Warsaw, April 26, 2012.
Photo courtesy of Xinhua
 

Warsaw, Poland - April 26, 2012

China will set up a $10 billion line of credit to support cooperative projects with Central and Eastern Europe.

Visiting Chinese Premier Wen Jiabao announced the plan at a China-Central and Eastern Europe business forum here, saying it would accelerate the two sides' practical cooperation.

Wen said the credit line, which would be partially in the form of preferential loans, would fund projects in the infrastructure, technology and green economy sectors.

Chinese Premier Wen Jiabao speaks during at a China-Central and Eastern Europe business forum in Warsaw, April 26, 2012.
Photo courtesy of Xinhua
 
Meanwhile,
China would also establish an investment cooperation fund, the goal of which was to raise $500 million, he said.

China would also expedite the establishment of economic and technology zones jointly with central and eastern European countries in the coming five years, he said.

Wen said economic and trade cooperation was the most dynamic area in the ties between China and central and eastern European countries and had strong growth potential.

Chinese Premier Wen Jiabao speaks during at a China-Central and Eastern Europe business forum in Warsaw, April 26, 2012.
Photo courtesy of Xinhua
 
He said trade volume between China and central and eastern European countries reached 52.9 billion dollars in 2011 and had grown 27.6 percent a year on average since 2001, when it was only 4.3 billion dollars.

Growth had continued even after the onset of the global financial crisis, with Chinese imports from central and eastern European countries showing 30 percent average annual growth, he said.

Chinese Premier Wen Jiabao attends a welcoming ceremony held for him by Polish Prime Minister Donald Tusk in Warsaw, Poland, April 25, 2012.
Photo courtesy of Xinhua / Rao Aimin
 
In addition, the two sides enjoyed increasingly active two-way investment, with investment from China covering chemicals, machinery, home appliances, telecommunications, vehicles and new energy, and more recently expanding to agriculture, finance and technology, Wen said.

Moreover, infrastructure cooperation had borne fruit, with a bridge on the Danube in Belgrade a landmark cooperative project, he said.

Wen said people-to-people exchanges had always been an important driving force for ties between China and countries in the region.

Chinese Premier Wen Jiabao (2nd L, front) inspects the guard of honor during a welcoming ceremony held for him by Polish Prime Minister Donald Tusk (L front) in Warsaw, Poland, April 25, 2012.
Photo courtesy of Xinhua / Rao Aimin
 
More and more people in central and eastern European countries had started to learn Chinese, with the number of Confucius institutes and Confucius classes in the area now totaling 58, he said
.

In terms of tourism, China received 230,000 tourists from the region, while nearly 75,000 Chinese tourists chose the region as first stop on their European visits.

Moreover, 37 Chinese provinces and 58 cities had forged friendships with counterparts in central and eastern Europe, he said.

China would encourage these provinces and cities to give play to their advantages in order to lead bilateral local cooperation, the premier said.

Chinese Premier Wen Jiabao (left) attends a welcoming ceremony held for him by Polish Prime Minister Donald Tusk in Warsaw, Poland, April 25, 2012.
Photo courtesy of Xinhua / Pang Xinglei
 
Wen said China would deepen friendship with central and eastern European nations with "maximum sincerity", and make efforts to further practical cooperation.


Wen said the global economy had improved since the beginning of this year, but the recovery foundation was still fragile with uncertainties.

Concerted efforts by the two sides in coping with challenges conformed with each other's fundamental interests, he said.

Though the countries were unalike in social system, national condition and culture, the differences would by no means change the common aspiration and determination to develop friendship, he said.

Chinese Premier Wen Jiabao holds talks with Polish Prime Minister Donald Tusk in Warsaw, Poland, April 25, 2012.
Photo courtesy of Xinhua / Rao Aimin
 
Wen called for deepening the friendly relations between China and central and eastern European countries and upgrading the level of bilateral practical cooperation
.

The two sides should enlarge their cooperation scale, expand their cooperation field, perfect the cooperation mechanism and lay a solid foundation for cooperation, Wen said.

The premier said China was ready to make joint efforts with countries in the region to expand market openness between each other and strive to build bilateral trade to $100 billion by 2015.

Chinese Premier Wen Jiabao (L back) and Polish Prime Minister Donald Tusk (R back) attend a signing ceremony of agreements on bilateral cooperation in Warsaw, Poland, April 25, 2012.
Photo courtesy of Xinhua / Pang Xinglei
 
The two sides would carry out multi-dimensional cooperation in trade, investment, infrastructure, tourism and other fields, Wen said
.

It was necessary for the two sides to hold economic and trade forums and meetings of state leaders regularly, the premier said.

China would set up a China-Central and Eastern European Countries' Cooperation Secretariat, which would be in charge of communication and coordination, he said.

Chinese Premier Wen Jiabao (left) and Polish Prime Minister Donald Tusk hold a joint press briefing in Warsaw, Poland, April 25, 2012.
Photo courtesy of Xinhua / Pang Xinglei
 
And he proposed hosting a cultural cooperation forum next year and more cultural festivals involving individual countries in the region
.

The premier also proposed strengthening dialogue on educational policy.

Wen said that, although the international economic situation had improved since the start of the year, the foundation for economic recovery remained fragile and uncertain.

The meeting of Prime Ministers of Poland, several Central European countries and China in Warsaw, Poland, Thursday, April 26, 2012.
Photo courtesy of Xinhua
 
It was in the fundamental interests of both China and central and eastern Europe to jointly meet the challenges, Wen said
.

China would provide 5,000 scholarships to students from countries in the region over the next five years, and invite 1,000 students from these countries to China to learn Chinese, Wen said.

Meanwhile, China would send 1,000 students and scholars to Central Eastern Europe to advance learning and exchanges, he said.

The meeting of Prime Ministers of Poland, several Central European countries and China in Warsaw, Poland, Thursday, April 26, 2012.
Photo courtesy of Xinhua
 
China would set up a research fund on ties between the countries with funding of 2 million yuan ($317,000) every year, Wen said
.

Wen started his official visit to Poland on Wednesday.

Visiting Chinese Premier Wen Jiabao said here that relations between China and Poland are now standing at a higher level.

Wen made the remarks at a press briefing jointly held with his Polish counterpart Donald Tusk.

Chinese Prime Minister Wen Jiabao (left) with Polish President Bronislaw Komorowski in Belweder palace in Warsaw, April 26, 2012.
Photo courtesy of Xinhua
 
Wen is currently on a two-day official visit to Poland and is expected to attend a forum on cooperation between China and central and eastern Europe.

He is expected to announce a series of measures to be taken to further broaden and deepen China's ties with the region.

"Currently, the international political landscape is undergoing big changes. China and Poland are having more and more common interests, so there is a need for both countries to make concerted efforts to further promote their ties and promote their cooperation," he told reporters.

Chinese Prime Minister Wen Jiabao (left) and Polish Prime Minister Donald Tusk (right) pose prior to their joint dinner at the Palace on the Water in the Royal Lazienki Park in Warsaw, April 25, 2012.
Photo courtesy of Xinhua
 
He said that China and Poland are going to strengthen cooperation in such sectors as energy, new energy, finance and education
.

On Poland's economic growth, Wen said that China is glad to see that Poland's economy has grown to be among the world's top 20.

Chinese Premier Wen Jiabao pledged at landmark talks in Warsaw on April 25, 2012 to double bilateral trade turnover with Poland in the next five years.

During a historic two-day visit, the first in 25 years by a Chinese premier, Wen praised Poland for its economic resilience during the global economic crisis and the eurozone debt debacle battering several European Union partners.

Wen said bilateral efforts were focused on doubling trade turnover within five years.

In 2011, this was valued at 14.55 billion euros ($19.18 billion), up from 12.7 billion euros ($16.7 billion) in 2010, according to Polish figures.

Chinese Prime Minister Wen Jiabao (central left) and Polish Prime Minister Donald Tusk (central right) in the Royal Lazienki Park in Warsaw, April 25, 2012.
Photo courtesy of Xinhua
 
"Poland has maintained stability and development and has secured 20th spot in ranking of global economies,"

Wen told reporters alongside his Polish counterpart Donald Tusk
.

Poland's Industrial Development Agency on April 25, 2012 signed a letter of intent with the Bank of China, due to open a branch in Poland focused on Chinese investment.

Poland is the last leg of a four-nation Europe tour that included visits to Iceland and Sweden and the opening ceremony of the Hannover Fair in Germany.


Source: China Daily

http://europe.chinadaily.com.cn/



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