Chen Deming met with Christine Lagarde, French Minister for the Economy, Industry and Employment, and the accompanying business representatives on April 29. The two sides exchanged views on such issues as the current economic situation and Sino-French economic and trade cooperation.

Chen Deming expressed that there is a good opportunity for the development of Sino-French relations, and China is willing to work with the French side to foster new growth points for Sino-French economic and trade cooperation, and make due contributions to the deepening of the strategic partnership between the two countries.

Chen said that since the financial crisis, the Chinese government has adopted a package of economic stimulus plans to expand domestic demand, adhered to opening up its market, and expanded imports from the rest of the world, promoting a significant improvement of trade balance and international payment balance. China’s trade surplus was down by 76.7% in the first quarter of the year, and there was a trade deficit in March, first time in 6 years.

Chen pointed out that at present, China is accelerating economic restructuring, and transforming the development mode, and a broad market shall be created for Sino-French economic and trade cooperation. And China is willing to expand imports of advanced technology and equipment, consumer goods and agricultural goods from France. He hoped the French side play a positive role in the European Union (EU), and take lead in EU to lift export control against China, and create conditions for high-technology exports to China, so as to promote a balanced development of bilateral trade between China and France.

Lagarde expressed that France is willing to play a role in global economic recovery, enhance Sino-French economic and trade cooperation, and deepen the strategic partnership with China in a comprehensive way.

France is China’s fourth largest trading partner, the fourth largest source of investment, and the second largest source of technology import in EU. From January to March 2010, Sino-French trade volume reached US$ 9.82 billion, among which China’s exports to France was US$ 62.8 billiion, while imports from France was US$ 3.55 billion, up 39.4%, 46.7% and 28.2% respectively.

The two sides also exchanged views on such issues as enhancing investment and cooperation, supporting development of small- and medium-sized enterprises, climate change and the Doha Round Talks.