China signed 20 milion euro agreements with Europe

Chinese Vice-Premier Li Keqiang paid a visit to Great Britain, Spain and Germany during which he has signed contracts that worth tens of billions of euros. China's Vice-Premier has concluded a visit of several days in three of the most important European countries.
Accompanied by a delegation of over a hundred businessmen, the Chinese dignitary attended meetings in Britain, Spain and Germany.

During the tour there were signed contracts worth nearly 20 billion euros and China has reaffirmed its support for the European economies.

The European Union is China's most important financial partner. The imports and exports between the two sides reach nearly 500 billions euros annually.
The Chinese Vice Premiere LI Keqiang met with some of the most important European leaders.

In Spain he met with Prime Minister Jose Luis Rodriguez Zapatero and King Juan Carlos in Germany - with Chaencellor Angela Merkel and British Prime Minister David Cameron and Vice-Premier Nick Clegg.

The consolidation of the European Chinese relationships

The tour of the Vice-Premier Li Keqaing, considered one of the future leaders of China, indicates the importance which the Beijing attaches to the partnership with the European Union, said the Romanian Ambassador at Beijing, Viorel Isticioaia.

‘As China's economic potential has enabled it to overcome the economic crisis and find acceptable ways for its European partners to intervene, to take part in the efforts of the economic and monetary stabilization of the European area, here is how a complementarity of interests is created.

‘Therefore, it is not just the rhetoric, it is not about the political gestures of convenience, it is about very real and realistic calculations, if you prefer, which go towards the consolidation if the European-Chinese relationships’, added Viorel Isticioaia.
Beside the approximate 20 billion euro contracts signed during the tour, the Chinese official gave a new signal of China's willingness to support the European economies.

China promises to purchase government securities issued by the European countries

Chinese Vice-Premier Li Keqiang said that his country will buy government securities issued by the European countries with problems, including Spain.

‘The purchases of treasury bills, of receipts from the sovereign debt of these states on the Chinese side show that in many aspects these purchases, especially in the case of Spain, and the ones in the case of Greece follow, are a demonstration of China's wish to contribute in stabilizing the current financial situation of the European area,’ stated the Romanian Ambassador in Beijing.

The Central Bank of Beijing announced on Tuesday that China's foreign exchange reached at the end of last year up to 2,850 billion dollars.
The representatives of both China and Japan said that they would bonds issued by the European countries.

In addition to their support, the Asian countries with substantial trade surpluses and foreign reserves aim to diversify their investments in order to reduce its dependence on the US dollar, a currency influenced by the decisions of the United States administration, which tries to cut the unemployment and to stimulate the economy.

Translated by: Iulia Florescu
MA Student, MTTLC, Bucharest University