On September 5, 2005, Premier Wen Jiabao of the State Council and British Prime Minister Tony Blair and President of the European Union Commission Jose Manuel Barroso who were in China attending the eighth China-EU Summit addressed the second China-EU Business Summit held in the Great Hall of the People.

Wen said that this year marks the 30th anniversary of the establishment of China-EU diplomatic ties. Over the 30 years China-EU relations have withstood the tests of time and fluctuating international situation and now are in the most dynamic and productive period in history. Today China and the EU share political mutual trust and are committed to building the all-round strategic partnership. The two sides enjoy economic complementarities and the bilateral economic and trade cooperation has been growing by leaps and bounds. The bilateral cultural exchanges greatly deepen the mutual recognition of the people of both sides. The practice of 30 years shows that to develop the all-round strategic partnership between China and the EU is a correct choice. To move such relations ahead actively not only complies with the interest of China and the EU but also is conducive to world peace, stability and development.

Wen pointed out that over the 27 years since China's reform and opening up it has made remarkable achievements of economic development and social progress. However, as an economically underdeveloped country, China still has a long way to go towards modernization. China is both a big consumer and producer of energy sources and its basic principles of energy strategy include relying on domestic resources, attaching equal importance to increasing energy sources and limiting consumption, actively developing renewable energy sources, accelerating the building of an energy-saving society and properly handling the relations between supply and demand of energy sources by promoting technological innovation and following a new type of industrialization road. China is not only a big exporter but also a major importer with both big trade surplus and deficit. China does not pursue trade surplus and we hope work together with our trade partners to solve the trade imbalance in the course of development and achieve mutual benefit and a win-win outcome. China will unswervingly adhere to opening up and the road of sustainable development. China, with opener market and better investment environment, will attract an increasing number of overseas businesses to come and make industrial investment.

China and the EU share strong economic complementarities and enjoy vast cooperation potential. The bilateral economic and trade cooperation is standing at a new starting point where both sides should strengthen cooperation in the following areas: first, improving cooperation in the area of trade in service. Of the more than 160 service trade sectors classified by the World Trade Organization China has opened more than 100, which is close to the openness of the developed countries. The EU enjoys advantages in its modern service industry and the bilateral cooperation in that area has big potential; second, expanding mutual investment, deepening investment cooperation, opening new channels of investment and upgrading investment structure; third, broadening technological cooperation and exchanges. New cooperation areas, projects and means should be explored and technological cooperation in multiple forms and channels be boosted. Various businesses including small and medium-sized enterprises should be encouraged to participate in China-EU technological cooperation; fourth, reinforcing coordination in the international economic and trade fields, jointly coping with the risks and challenges of economic globalization and creating an international environment favorable for deepening cooperation; fifth, properly handling conflicts and friction. Over years the two sides have established a sound dialogue and consultation mechanism in many areas which should be tapped fully to deepen the mutual understanding, narrow down differences and stimulate cooperation, noted Wen.

Wen stressed that China's development will inject energy into the EU and EU's prosperity also complies with China's interest. The friends of the business community of China and the EU should seize the opportunities to write a more glorious chapter in the course of promoting the progress of China-EU all-round strategic partnership.

Blair said that the development of EU-China economic and trade relations has promoted the prosperity of both sides and the bilateral cooperation covers a wide range of areas with great potential. The two sides should adapt to changes in the situation, build up trust, take appropriate measures to eliminate differences, build a sound environment for cooperation, promote the parallel development of the political, economic and trade relations, keep committed to deepening bilateral cooperation in such areas as economy and trade, education, science and technology and politics and maintain world peace and stability, which is in the interest of both the EU and China.

Barroso noted that China's reform and opening up have boosted the growth of China's economy and China has conducted friendly and mutually beneficial cooperation with other countries and regions through open, transparent and free trade. The development of China brings about opportunities to the world economy and plays a major role in advancing world peace and development. EU is willing to discuss with China on how to solve the problems of bilateral economic and trade cooperation with a pragmatic and constructive attitude so as to advance the smooth development of bilateral economic and trade cooperation.