8th Sino-French Economic Seminar Opens in Shanghai

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Last updated at: (Beijing Time) Thursday, April 04, 2002

8th Sino-French Economic Seminar Opens in Shanghai

The development of financial markets in China and France is a hot topic at the 8th Sino-French Economic Seminar, which opened Wednesday in Shanghai.

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The development of financial markets in China and France is a hot topic at the 8th Sino-French Economic Seminar, which opened Wednesday in Shanghai.

Former French President Valery Giscard d'Estaing said that France and China share many things in common in terms of economic development, and more exchanges between the two sides will help strengthen the ties between China and Europe.

D'Estaing, who has attended three similar seminars, expressed hope that the FCC would help Shanghai develop into China's main financial and insurance hub.

Statistics show that French investment in Shanghai totals 436 million U.S. dollars so far. China's exports to France via the port of Shanghai amounted to 1.51 billion U.S. dollars in 2001.

Shanghai Mayor Chen Liangyu says that half of the world's 50 largest banks have set up branches in Shanghai, whose financial system will take a more definite shape in the near future.

Hundreds of experts from French and Chinese consultancy firms, banks, securities exchanges and insurance companies are attending the two-day seminar, jointly organized by the France-China Committee (FCC), Shanghai Municipal Government and China Council for the Promotion of International Trade.

The FCC was established in 1979, and aims to provide French enterprises with information relating to China's economy.

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