By September 2009, Belgium had invested more than $1 billion in China. It is also a major provider of sophisticated technology to China. By August 2009, it had exported 494 items of technology to China with a contractual value of $2.88 billion.
Bulgaria, Hungary and Romania remain China's major trade partners in Central and Eastern Europe. Trade between China and the three countries rose to $12.01 billion in 2008 from $1.39 billion in 2000.
China has also invested some $250 million and $300 million in Hungary and Romania respectively, making them major destinations of Chinese investment in the region. Project contracting and manufacturing remain among the most promising areas of collaboration.
At a meeting with German Chancellor Angela Merkel, Xi put forward a five-point proposal to boost Sino-German relations. His initial suggestions included deepening political trust, enhancing trade ties and economic cooperation to jointly cope with the international financial crisis.
He expressed further desires to cooperate on tackling climate change and developing alternative sources of energy while protecting the environment. Xi also called for stepping up exchanges in culture, education, media and tourism, while strengthening cooperation on global issues including reforming the international financial system along with food and energy security.
Merkel said Germany's newly elected government will continue to give priority to Berlin's relations with China, and is willing to work closely with Beijing to enhance substantive bilateral cooperation.
Merkel, who was re-elected to the post of German chancellor on September 27, also spoke highly of China's economic development and the progress it has made in implementing its economic stimulus package over the past year. With these efforts, she said, China has played a constructive role in helping promote worldwide economic recovery.
Germany is now China's biggest trade partner in Europe. Two-way trade amounted to $115 billion in 2008, representing more than one quarter of all of China's EU trade. Germany's investment in China, alternately, has reached $15.8 billion, also accounting for some one quarter of the EU investment in China.
On the other hand, Chinese companies have invested $980 million in Germany, making up 29 percent of China's investment in the EU. Germany remains China's biggest technology provider in the EU, and its third biggest worldwide next to the United States and Japan. |