CHINA:

The Summit of cooperation with Central and Eastern Europe

   December 3, 2015

   One of the most important events of the last week was The China-Central and Eastern Europe Summit, which was held in the Chinese city Suzhou. On the occasion of the meeting, attended by heads of government and officials from 16 central and eastern-European countries, economic contracts advantageous to both parties were concluded. One of the most important moments of the summit was the signing of the separate agreements between China and Hungary and, respectively, China and Serbia, aimed to modernize the railway between Budapest and Belgrade.

   According to the Chinese Prime Minister Li Keqiang, the project will be completed in the next two years and will represent a boost for the economic relations between Serbia and Hungary, because the time for covering the distance between the capitals Budapest and Belgrade will be halved. It should be noted that the decision to modernize this railway and to turn it into one of high-speed was taken at the China-Central and Eastern Europe Summit held two years ago in Bucharest.

   The investment project for the railway, over a length of 166 km, is 85% financed by China, and the 15 percent remaining, i.e. about 1.5 billion euros, will be provided by Hungary. This project is already considered a success by officials from the two European beneficiary countries. When the work will be completed, trains will run at 160 kilometers per hour between Budapest and Belgrade. To get an idea about the performances of Chinese technicians in rail transport, European leaders, including the Minister of Economy of Romania, Costin Borc, were invited aboard the high-speed train between Suzhou and Shanghai, train which reaches a maximum speed of 486 kilometers per hour and has traveled the distance of 100 kilometers in 25 minutes.

   The Minister of Economy from Bucharest said that Romania is interested by the Chinese Prime Minister Li Keqiang proposal to create a business configuration 6 + 1, involving Beijing and six countries from Eastern Europe, the Black Sea region and the Adriatic Sea region.

   The European officials attending the event in China have had also the opportunity to visit the Suzhou Industrial Park, established in 1994, on the basis of an agreement signed by the authorities from Beijing and Singapore. The technology park covers an area of 288 square kilometers, and has over one million people employed.

   welinkbusiness: For Beijing, the cooperation with the countries from Central and Eastern Europe is an important step towards the Old Continent and especially to Western Europe. China wants to turn Europe into an important business partner and, in this context, offers its financial and construction services. Many of the Eastern European countries, which are passing through difficult times, do need the support of Beijing, as is the case of Hungary, which has requested a long-term loan from the Chinese for the implementation of various projects. Moreover, China presents itself as a bridge between EU members and extracommunitary European states, via joint projects between two such countries – see the case of Hungary and Serbia.

   (S.N.)

welinkbusiness.ro: Promoting West – East business links

References:
http://www.fmprc.gov.cn/mfa_eng/zxxx_662805/t1318039.shtml