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China, France sign 50 agreements worth $25 bn
March 27, 2014, 4:56 am

Hollande welcomed the Chinese investment in his country saying, "Eighteen billion euros of contracts -- that is jobs, growth and, most of all, significant prospects for the coming years” [Xinhua]

Hollande welcomed the Chinese investment in his country saying, “Eighteen billion euros of contracts — that is jobs, growth and, most of all, significant prospects for the coming years” [Xinhua]

Chinese President Xi Jinping witnessed the signing of a slew of bilateral deals with France after his meet with French counterpart Francois Hollande on Wednesday.

A joint statement late on Wednesday evening said France welcomes the 80 billion yuan ($1.28 billion) quota of RMB qualified foreign institutional investor distributed by China. The statement welcomed turning Paris into an important trade hub of Chinese investment in the euro zone and that of European countries in China.

The 50 agreements signed worth $25 billion in sectors like financial, nuclear and aviation is seen as a major push to ties even as Beijing and Paris mark their 50th year of diplomatic ties.

The two sides released a mid- to long-term blueprint for the development of bilateral ties.

In Wednesday’s press conference with Xi, Hollande welcomed the Chinese investment in his country saying, “Eighteen billion euros of contracts — that is jobs, growth and, most of all, significant prospects for the coming years”.

The two sides also vowed to boost the joint exploitation of the Hinkley Point and other projects in Britain and the construction of the two units at Taishan nuclear power plant in China’s Guangdong Province.

Automobile manufacturing was listed as a priority in bilateral industrial ties with special focus on cooperation between French automaker PSA Peugeot Citroen and the Renault Group with China’s Dongfeng Motor Group and Changan Automobile.

China and France also vowed to build the Chinese city of Tianjin into Airbus’ manufacturing center in Asia.

 

Source: Agencies

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