European Parliament President Josep Borrell Fontelles said Friday that China and the European Union should develop closer cooperation on the international stage.

"Beyond the political, geographical or cultural differences between Europe and China, both entities are facing with a set of similar problems, and these similarities should stimulate both sides to develop a closer cooperation on the international stage," said Borrell.

He made the remarks in a speech at the China-Europe International Business School in Shanghai.

The first European Parliament president making an official visit to China in 13 years, Borrell observed that China's economic growth was more rapid than he had anticipated.

The economic growth rate of 10 percent for the last quarter-century and the lifting of 250 million people from poverty was an amazing effort.

Europe and China were both facing aging populations. Chinese society was experiencing a shift in its demographic composition, and faced a sharp reduction in population growth over the next 15 years, thanks to the "one child" policy.

Europeans faced the same phenomenon, with two active persons for each retired person in 2050, according to demographic forecasts.

Borrell called for cooperation in the fields of new social and fiscal policies, and emphasized the imperative of social cohesion, another field requiring mutual effort.

China's showing on the UN's "Gini coefficient", measuring inequality, had reached an alarming level. Meanwhile, the EU had expanded to take in 10 new member states with standards of living much lower than those of the 15 older members.

Europe and China should join hand to handle the deepening inequality and in solving emerging migration problems.

Europe and China could cooperate in energy resources research, developing new energy sources, improving energy efficiency and preventing rapid growth at the cost of the environment, said Borrell.

As an expert in economics, Borrell said, "'Made in China' does not necessarily mean 'Made by China'. In fact, over 40 percent of China's exports are from companies that are 100 percent owned by foreign capital."

Europe and China were highly dependent on international trade, more so than the United States and Japan and therefore should play a more active role in international forums on trade, political stability and assistance to undeveloped areas.

He said in a fully-developed partnership, both entities could choose their own models for different situations, and closer EU-China cooperation would benefit the world.

Borrell is here on an official goodwill visit from July 8 to 15 as a guest of Wu Bangguo, Chairman of the Standing Committee of the National People's Congress, China's legislature.

Source: Xinhua