China, CEE countries vow to boost investment, infrastructure cooperation

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China, CEE countries vow to boost investment, infrastructure cooperation

(Xinhua) 20:42, November 26, 2013

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BUCHAREST, Nov. 26 (Xinhua) -- China and Central and Eastern European (CEE) countries pledged to expand investment and boost infrastructure collaboration, according to a cooperation guideline issued here Tuesday by leaders of those countries.

The guideline is a significant outcome of the second China-CEE leaders' meeting, which has brought together Chinese Premier Li Keqiang and his 16 counterparts from CEE countries in the Romanian capital.

The two sides agreed in the guideline to designate 2014 as the year for promotion of investment and trade between China and CEE countries, and a series of events will be convened during that year.

They also agreed to encourage their countries' small and medium-sized enterprises to play an active role in economic and trade cooperation between the two sides.

They pledged support for small and medium-sized enterprises to strengthen cooperation in green technology.

China and CEE countries also decided to promote trade in agriculture, announcing support for the establishment of a joint association to promote agricultural cooperation.

On financial cooperation, Chinese and CEE leaders vowed to beef up coordination, encourage their financial institutions to carry out cooperation in various forms, and make good use of a 10-billion-U.S.-dollar special credit line to boost trade and economic cooperation between the two sides.

The leaders said they support their financial institutions to develop business and open more branches in each other's markets, and support the People's Bank of China to sign currency swap deals with CEE central banks in accordance with their respective needs.

The two sides also agreed to support their institutions to invest in each other's inter-bank bond market.

According to the guideline, the two sides will discuss plans to build a new international railway transport artery linking China and CEE countries, and will encourage the setting up of bonded areas and distribution centers along the railroads.

As part of the drive, China has already reached an agreement with Hungary and Serbia to jointly build a railway between the latter two countries.

The three sides will set up working groups immediately to advance the project as soon as possible to benefit passengers and cargo transporters.

China now has the world's second-largest railway network with the longest mileage of high-speed railway, Li said Monday when announcing the project. He highlighted the use of Chinese equipment as a new global trend due to its high quality and low price.

Meanwhile, China and CEE countries will also deepen cooperation in highway, port and airport construction, and support the establishment of a business federation that facilitates the participation of institutions and enterprises alike from both sides in infrastructure construction collaboration, according to the guideline.

Also, Beijing and CEE countries -- the new markets of Europe -- plan to expand cooperation in science and technology innovation, information communication and environmental protection, read the guideline, which also lays emphasis on jointly developing clean power generation projects.

The Chinese premier arrived here Monday for an official visit to Romania and the summit with CEE leaders.