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Financial Times publishes article written by Chinese vice premier

(Xinhua)

16:52, May 02, 2012

LONDON, May 2 (Xinhua) -- The Financial Times on Wednesday published an article written by Chinese Vice Premier Li Keqiang. The following is the full text of the article -- "China Has Great Expectation for Europe."

We Chinese have always had a lot of goodwill towards Europe, and there is much I expect to gain from my upcoming visit to the EU. China is the largest developing country in the world, and Europe is an important pillar of the international community. China's reform and opening-up programme and Europe's integration process have both contributed significantly to global peace, development and prosperity. China firmly supports the integration of Europe and regards the EU as a strategic partner that deserves our confidence.

We hope to see a united, strong and prosperous Europe. Despite the debt problems encountered by some EU countries, Europe, with its solid economic foundation and scientific and technological strengthen, can beat the crisis and turn it into an opportunity for greater progress. In fighting the debt crisis, EU countries have enhanced cooperation and carried out reform with tremendous courage. This is applaudable. As a result, the EU has made major progress to fiscal integration, and the long-term mechanism for preventing financial risks, the European Stability Mechanism, will be launched earlier than scheduled. These steps have boosted market confidence and sent an encouraging message to the world.

China and the EU have become indispensable partners for cooperation in pursuing common development. China firmly supports both in words and in deeds Europe in its efforts to overcome the current crisis. In the past two years, China's imports from EU countries have grown at an annual rate of over 25 percent. Last year, China almost doubled its direct investment in Europe, and purchased bonds issued by European countries several times. China will continue to explore possible and effective means to cooperate with the relevant parties and to make a joint contribution to addressing the issue of Europe's sovereign debt.

We hope to see a more open and cooperative Europe. China is implementing its 12th Five-Year Plan, and Europe is pursuing its "Europe 2020" strategy. This has created room for enhancing China-EU cooperation. Economically, both China and Europe have much to benefit from each other's strength; this is the defining feature of China-EU relations. When "designed in Europe" is combined with "made in China" and when European technologies are combined with the Chinese market, there will be amazing results.

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