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Ma Kai and Minister of the Economy and Finance Michel Sapin of France Co-chair the Fourth China-France High Level Economic and Financial Dialogue

2016/11/15

On November 14, 2016 local time, Vice Premier Ma Kai and Minister of the Economy and Finance Michel Sapin of France co-chaired the fourth China-France High Level Economic and Financial Dialogue in Paris. Both sides conducted in-depth and candid dialogues and exchanges on working together to promote robust, sustainable, balanced and inclusive growth, bolster cooperation in trade, investment and industry and deepen financial cooperation.

Ma Kai expressed that pragmatic cooperation in economy and finance is an important pillar for the development of China-France relations. China-France High Level Economic and Financial Dialogue is the leading high level mechanism of bilateral economic and financial cooperation, which plays a vital platform role in boosting bilateral pragmatic cooperation. As the first economic and financial dialogue after President Xi Jinping and President Francois Hollande met in Hangzhou and a China-France inter-governmental high level dialogue held at the critical period of Europe, it bears the important mission of implementing the significant consensus between both heads of state as well as outcomes from the G20 Hangzhou Summit, and planning the economic and financial cooperation between the two countries in the next stage. It is hoped that France can give play to its important influence to urge the EU to fulfill the obligations under Article 15 of the Protocol on the Accession of China to the World Trade Organization in a comprehensive and clean manner as scheduled. China is willing to strengthen economic and financial cooperation with France on the basis of mutual trust and mutual benefit, so as to jointly elevate the new type of China-France comprehensive strategic partnership to a higher level.

Michel Sapin noted that the establishment of France-China High Level Economic and Financial Dialogue mechanism is a joint decision made by leaders of both countries in 2013. Over the years, France and China have always been conducting the dialogue in the spirit of mutual respect and understanding, which has effectively strengthened bilateral relations. France congratulates China on successfully hosting the G20 Hangzhou Summit and admires the positive role the Hangzhou Summit has played in improving global economic recovery and global governance. France is willing to work with China to comprehensively deepen cooperation in nuclear power, finance, investment, trade, agriculture, third-party market and other areas. France supports the EU to fulfill its international legal obligations including those under Article 15 of the Protocol on the Accession of China to the World Trade Organization.

The dialogue has achieved 60 outcomes. Both sides agreed that they will continue to encourage bilateral trade and actively explore trade cooperation in such new areas as health care, elderly care, agricultural food and ecological environment conservation. Both sides will accelerate the synergy between the development strategies of the two countries, further strengthen investment cooperation in major projects in nuclear energy, automobile, aviation, aerospace and other areas, and create a more convenient institutional environment for two-way investment. Both sides will explore third-party market cooperation and set up a steering committee and a joint fund for third-party market cooperation. Both sides will expand financial cooperation in bond, green finance, financial regulation and other areas. Both sides will jointly commit to enhancing coordination in economy-related international affairs, especially communication and cooperation within multilateral frameworks such as the G20, to well implement the consensus reached at the G20 Hangzhou Summit.

On the same day, Ma Kai and Michel Sapin also jointly met the press and attended the signing ceremony of bilateral cooperation programs.

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