The Laba Mountain Wind Power Project in Dechang County, Liangshan Yi Autonomous Prefecture, Sichuan Province Photo: Courtesy of Chengdu Engineering Corporation Limited under state-downed company Power China

A senior Chinese economic official said on Tuesday that green development should be promoted as the most distinctive feature of China-Europe cooperation and China will strive to address the concerns of European businesses and encourage them to actively participate in China's green transition. 

Li Chunlin, vice chairman of the National Development and Reform Commission (NDRC), China's top economic planning agency, made the remarks at the China-Europe Cooperative Partnership Dialogue on shaping new growth driver for green development in Beijing on Tuesday. 

The remarks came as China and the EU are set to hold an annual leaders' summit in Beijing on Thursday. Expectations are growing that the two sides will seek to manage differences and boost cooperation in areas of common interests, with green development being a priority item. 

Li said that China and Europe have strong industrial complementarity and broad market potential in building new-energy systems and promoting low- and zero-carbon technologies, noting that European companies possess leading technologies in areas such as wind power, hydrogen energy, integrated energy solutions, and petrochemical decarbonization.

"We welcome European companies to continue to expand in the Chinese market, actively participate in China's green and low-carbon development process, work together to build a clean and beautiful world, and inject more impetus into the world's economic recovery and growth," Li told the event. 

The NDRC official further pointed out that European companies have participated in China's reform and opening-up process and made a great contribution to China's economic development over the past four decades, through which they also accessed significant return on investment. 

"Today, China's economy has been deeply integrated into the world and has become a crucial engine for global trade and economic recovery," Li said, urging European firms to maintain such pioneering spirit and work with Chinese counterparts to explore more new businesses. 

China will unwaveringly continue to expand high-level opening-up, strive to address concerns of foreign businesses operating in China, continue to provide a leading  business environment for foreign companies including those from Europe, and support them for greater development, Li said.

As the EU has targeted certain Chinese businesses and industries, including Chinese new-energy vehicles, businesses are hoping that the two sides can manage their differences and boost win-win cooperation. 

"China hopes that the two sides can work together to address global challenges, inject new impetus into the global economy, increase stability in international situation and provide strategic guidance for sustained and sound development of China-EU relations. This serves the fundamental and long-term interest of both China and the EU and meets the common aspiration of the international community," Wang Wenbin, a spokesperson for the Chinese Foreign Ministry, said on Monday, while commenting on the upcoming China-EU Summit.

Leaders from the two sides will have in-depth exchange of views on strategic issues critical to the direction of China-EU relations and global issues of mutual interest to draw a blueprint for, identity the focus of and inject impetus to China-EU relations, Wang stated.

Global Times