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Last updated at: (Beijing Time) Friday, November 08, 2002

680 SMEs Attend Largest China-EU Business Fair

Representatives from 680 small and medium-sized enterprises (SME) from China and the European Union (EU) gathered Thursday in Beijing for the opening of the largest ever China-EU business fair.


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Representatives from 680 small and medium-sized enterprises (SME) from China and the European Union (EU) gathered Thursday in Beijing for the opening of the largest ever China-EU business fair.

The EU-China Partenariat 2002, jointly hosted by the China Council for the Promotion of International Trade (CCPIT) and the Commission of the European Union, is intended to give the businesses an opportunity to share knowledge and experience.

Yu Xiaosong, chairman of the CCPIT, said at the opening ceremony that China's soaring economy needs overseas funds, technology and management expertise, especially in such fields as the reconstructing and upgrading of traditional, high-tech and tertiary industries and in the development of western China.

He said he hopes enterprises from the EU will enhance cooperation with their Chinese counterparts in these areas.

The Partenariat formula was created by the European Commission in 1987 and extended to economic cooperation between the EU and Asia in 1997.

The CCPIT had arranged more than 3,500 business talks by Wednesday for the 296 EU enterprises and 384 Chinese enterprises attending the fair. Twenty-one Chinese provinces, cities and autonomous regions have set up consultation desks at the fair.

"The advanced technology and management expertise of EU enterprises, as well as the potential EU market, attracted us to the fair, and we hope to find EU partners here," said Li Guozhi, aprinting house director from Heilongjiang Province, northeast China.

Chinese SMEs are "hungry" for advanced technology and explore the EU market, said Karl Erik Svedback with the Special Saw group in Sweden. He had set up eight appointments for business talks andwas "definitely optimistic" to find Chinese partners at the two-day fair.

Trade between China and the EU increased by 10.6 percent year-on-year to 62.96 billion US dollars in the first nine months of this year, according to Chinese Customs.


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