File Photo: Xinhua

China and France are confident they can promote bilateral trade and economic cooperation to a higher level despite the global pandemic, as the two economies are highly complementary and have great cooperation potential, an official said Thursday.

Commenting on the 7th High Level Economic and Financial Dialogue held on Tuesday, an official of the Chinese Ministry of Finance (MOF) said that the two sides have agreed to boost bilateral trade and economic cooperation in several aspects.

First, China and France will deepen cooperation on big projects in manufacturing and the aeronautical field, while coming up with new cooperation models in new sectors including agriculture, finance and green economy, the official said in an article posted on the MOF website.

"China will unswervingly promote high level opening-up and welcome more French companies and financial institutions to invest and establish businesses in the country. China will also continue to maintain trade and investment opening-up, offering non-discriminate treatment to Chinese firms and maintain fair, transparent and predictable business environment," the official said.

In addition, the two sides have agreed to work together on promoting China-EU cooperation, support negotiations for a high-level China-EU investment treaty to improve market entry and remove discriminatory acts and behaviors that affect foreign investors, the official continued.

China welcomes the imports of French agricultural products of quality to meet diversified domestic needs, the official said. 

Apart from the registration of 10 French exporters of pig genetic materials, the two sides have agreed to sign a protocol on French exports regarding breeding birds and eggs to China, the official said.

China will support the establishment of French and European international financial centers, jointly boost the use of Chinese yuan and euros in bilateral trade and investment. China welcomes French banks and financial market infrastructures to get access to China's Cross-border Interbank Payment System of the yuan, while the French side supports its enterprises to cooperate with China Unionpay in offering services.

Relations between China and France have comprehensive and strategic connotations and reached a very high level. Deepening and expanding this comprehensive strategic partnership is not only in the interests of both countries, but also conducive to promoting China-EU relations, safeguarding world peace and development, and bringing more stability into an uncertain world, Chinese Foreign Ministry spokesperson Wang Wenbin said on Thursday.

A series of agreements were reached during Tuesday's event and another held on July 15, including deepening mutual understanding and political trust, accelerating talks over the ambitious China-EU Comprehensive Investment Agreement and signing the Geographical Indications Agreement as early as possible.

The two sides also called for maintaining smoothness and stability of both regional and global industrial and supply chains to resume manufacturing in an orderly way.

China is France's largest trading partner in Asia, while France is China's third largest trading partner within the EU. In 2019, the two countries' bilateral trade hit a new high of $65.54 billion, up 4.2 percent year-on-year. Last year, France's exports of cosmetics, drugs and agricultural products to China grew 41 percent, 20 percent and 5.4 percent, respectively.

By the end of June, accumulative two-way investment between the two countries reached $45.09 billion.