China, EU to raise high-tech co-op

08:57, December 22, 2010      

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With an "important consensus" reached on high-end technology trade after a day of wide-ranging trade talks between China and the European Union, China showed its concern over Europe's ongoing debt crisis, news agencies reported Tuesday.

China and the EU reached an "important consensus" on high technology trade, Chinese Vice Premier Wang Qishan said at a joint press conference after the third China-EU High-Level Economic and Trade Dialogue in Beijing, according to the Xinhua News Agency.

The two sides agreed to enhance cooperation in technology trade and convene the first meeting of the China-EU High-Tech Trade Working Group as soon as possible. They also agreed to improve cooperation in trade, investment, innovation and customs areas, Xinhua quoted Wang as saying.

"The EU side agreed to enhance communication with the Chinese side for early recognition of China's market economy status," Wang said.

The EU launched an investigation in September into a complaint that China had been dumping wireless wide-area networking modems with radio antennas, providing Internet protocol data connectivity for computers.

During the talks Tuesday, Commerce Minister Chen Deming said Chinese and European companies had reached a basic agreement on the dispute and submitted it to the European Commission, and China hopes the EU will end investigations into the complaint.

Hu Ronghua, a professor of economics at Fudan University, told the Global Times that complaints of dumping have always been a problem in bilateral trade between China and Western countries.

"To work toward their recognition of China's market economy would be the best solution. Only in this way can our products' prices not be compared to those of other nations with different costs, usually higher, which is vital when being decided whether it is dumping," Hu said.

However, Hu added that besides the fact that China still has some work to do before being recognized as a market economy, such as on well-enforced intellectual property rights, simmering debt problems within the eurozone are also making the EU more protective.

During the meeting, Chen expressed concern about Europe's ongoing debt crisis and said it was looking to EU policymakers for "real action" to keep the 27-nation bloc on course, according to AFP.

"We are very concerned about whether the European sovereign debt crisis can be controlled," Chen told reporters.

Source: Global Times/Agencies
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