On December 15, 2022, Ambassador Fu Cong delivered a speech at the 5th China-EU CEO and Former Senior Officials’ Dialogue and exchanged views with participants on various issues. The dialogue was attended by Bi Jingquan, Executive Vice President of the China Center for International Economic Exchanges (CCIEE), Fredrik Persson, President of BusinessEurope, Pascal Lamy, former Director-General of the World Trade Organization, and more than 30 senior executives from Chinese and European businesses and academic institutions including BASF, Maersk, Airbus, Montaigne Institute, China Investment Corporation (CIC), Chalco, COMAC, Sino Biopharmaceutical Limited (SBL) and Huawei. Ambassador Fu was accompanied by Minister Peng Gang of the Chinese Mission to the EU at the dialogue.

Ambassador Fu said that as a milestone event, the 20th CPC National Congress sent an important message that China will press ahead with the reform of its socialist market economy, promote high-standard opening up, accelerate efforts to foster a new development pattern, and eventually achieve development with higher quality. During the meeting with President Michel of the European Council in Beijing early this month, President Xi reiterated China’s commitment to upholding its comprehensive strategic partnership with the EU. He also expressed the hope that the EU could become an important partner in China’s pursuit of Chinese modernization and share the opportunities brought by China’s huge market and its efforts to advance institutional opening up and deepen international cooperation. The meeting between the two leaders has set a clear direction for the future of China-EU relations.

Ambassador Fu noted that China has long been a key trading partner of the EU and a major growth market for its companies. Expanding economic ties serves the interests of both China and Europe and meets the call of business communities from both sides. After decades of economic cooperation and trade based on market principles, the two economies are closely intertwined, and have formed a symbiotic relationship. China understands Europe’s concerns about its economic resilience. However, to let political, especially ideological-related factors hinder normal business cooperation is not the right way forward. China and the EU should join hands in resisting decoupling and protectionism in the name of security and ensure the stability of global industrial and supply chains.

Ambassador Fu also had in-depth discussions with delegates on global food and energy crisis, world economic recovery, business environment, industrial and supply chains, trade and investment cooperation, and the global trading system.