Euro-Asia Economic Forum as a Platform for Promoting Sino-Europe Cooperation on Infrastructure Investment

Transcription

1 Euro-Asia Economic Forum as a Platform for Promoting Sino-Europe Cooperation on Infrastructure Investment ---Speech for the Euro-Asia International Seminar, Rome, Italy Deputy Secretary-General of the Euro-Asia Economic Forum WANG Tao (June.9 th, 2014) Ladies and Gentlemen, dear friends: Good morning. I am honored to attend today s seminar. I thank the organizer for building such a meaningful platform for exchange. The permanent venue for the Euro-Asia Economic Forum is in Xi'an, China. The city of Xi an and the city of Rome, as the start and finish of the ancient Silk Road, sparked civilization for the Eastern and Western worlds, and have become cradles of human civilization and symbols of wisdom. Ancient Rome s republic government and its legal system are the model and the pride of the Western world. Meanwhile, the ancient Xi an, known as

2 Chang'an, which was the capital of Zhou, Qin, Han and Tang Dynasties, represents the splendid culture of the Chinese civilization. The grand scenes staged at these two cities long ago still live in people's dreams today. As the ancient Roman proverb goes, "The further the distance between two people, the more respect they have towards each other." Though Xi an is thousands of miles away from Rome, the friendship between them is long-standing. In 166 AD, emissaries sent by Emperor Antoninus Pius arrived in Chang an, making the first handshake between these two great cities. The murals from Tang Dynasty, over 1000 years ago, depict scenes of Romans settling down in Chang'an, running businesses, introducing religion, practicing medicine, and even serving as Imperial Court officials. As globalization deepens, Xi'an and Rome still play leading roles in the communication between East and West, especially in the cooperation between Asia and Europe. Xi'an is the largest hub in western China. Its urban area covers 10,000 square kilometers and there are 8.5 million permanent residents. Last year, the Chinese leadership put forward the initiative of building the Silk Road Economic Zone. Xi'an, with its historical and cultural resources and location advantages, established itself as the new starting point of the Silk Road

3 Economic Zone. My participation in this seminar, as a representative from Xi an, is one of Xi'an's efforts to strengthen dialogue and cooperation with the cities along the Silk Road and to promote mutual understandings between European and Asian countries. Meanwhile, we attach great importance to building platforms for communication and cooperation. In 2005, international organizations and state ministries such as Shanghai Cooperation Organization, United Nations Development Programme, Ministry of Commence of the People s Republic of China, and China Development Bank co-founded the Euro-Asia Economic Forum in Xi'an. Since then, the Forum has seen five successful conventions. The Forum aims to promote the revitalization of the ancient Silk Road and the new Eurasian Continental Bridge, explore and develop new regional dialogue and cooperation models. The forum has expanded the space for mutual benefits and cooperation between countries of the Euro-Asia region, and has become a national platform for regional cooperation the Chinese government invests great efforts to build. Last September, 86 countries including Italy participated in the 2013 Euro-Asia Economic Forum. As a part of the forum, Sino-Italian Culture, Economy and Trade Development Forum" was

4 successfully held, where Chinese and Italian businesses signed cooperation agreements to build an "Italian Town" in Xi'an together. The Euro-Asia Economic Forum has built a new bridge for pragmatic cooperation between Italy and China, and between the city of Rome and the city of Xi an. Infrastructure is the pillar and foundation of the national economy, and a key area for investment cooperation. Over the years, the Euro-Asia Economic Forum has paid great attention to infrastructure investment cooperation for its leading and demonstrating role to regional cooperation. Parties of the Forum signed Xi'an Initiative for Investment and Trade Facilitation, Xi'an Declaration on Building the Silk Road Economic Zone, among other documents. The Forum also contributed to the implementation of trans-regional infrastructure projects such as the SCO Energy Club, Transnational Digital Libraries, Eurasian Continental Bridge Transport Integration, Euro-Asia Economic Forum Comprehensive Park, the Silk Road Tourism Commodity Distribution Center. Through investment environment presentations, information dissemination and face-to-face meetings, etc, the Forum has facilitated cooperation agreements between countries in urban construction, science and technology education, energy resources, modern agriculture and other

5 infrastructural areas. In addition, the Forum is active in the investment policy research and consulting services, having released the Chinese Business Investment Euro-Asia Report, Shanghai Cooperation Organization Development Report and Euro-Asia Economic Forum Development Report, to provide policy guidance for investment cooperation between businesses. And today, I'd like to discuss with you on the issues of infrastructure investment between China and Europe, with reference to Euro-Asia Economic Forum's research and practice. First of all, I d like to talk about three points on Sino-Euro cooperation in infrastructure investment:first, we need to further release the investment potentials in the cooperation between China and Europe. China and Europe are two major economies in the world and are major trade partners to each other. However, investment cooperation between the two has lagged far behind. China s investment in Europe only accounts for 1% of the total direct investment EU receives from foreign countries. Also, the EU's direct investment in China accounts for only 2-4% of EU s total overseas investment. The economic relationship between China and Europe needs an urgent transformation from the trade-oriented mode to the "invest plus trade" two-wheel drive mode. Second, investment

6 cooperation between China and Europe should focus more on infrastructural areas. China has officially launched a new round of urbanization. By the year 2020, 30 trillion RMB investments will be needed for various kinds of infrastructural construction. The European countries will also initiate large-scale infrastructural construction plans in the next decade, for their infrastructural update, as a boost to their economic recovery. The amount of capital needed will reach 1 trillion euros. The weight of cooperation in infrastructure investment will rise increasingly in the total cooperation between China and Europe. Third, the expansion of infrastructure ructure investment requires efforts from both China and the Europe. In order to better serve Chinese businesses in the new overseas investment environment, the Chinese government will improve overseas investment management policies, streamline approval procedures, and decentralize the management authority, to make it easier for Chinese businesses to invest in Europe. At the same time, European countries could also take measures to lower thresholds, reduce barriers, streamline approval procedures, and make flexible standards to help Chinese business adapt to investing in Europe, particularly in the areas of infrastructure investment.

7 Based on these three points, the Euro-Asia Economic Forum will vigorously promote Sino-Euro cooperation in infrastructure investment by taking the following measures: First, coordinate policies to make investment more convenient enient. Based on full integration of the Forum's various resources, we will foster partnerships between governments, the private sector, international organizations, industry associations and other partners from diverse sources. We will share information about investment projects timely to coordinate and to solve all kinds of policy barriers and obstacles in order to offer open, transparent and favorable conditions for infrastructure investment cooperation. Second, push forward the establishment of policy-based financial institutions to fulfill capital gaps in investment. We can rely on member organizations of the Forum Committee such as China Development Bank and Export-Import Bank of China to attract more financial institutions to participate in the Forum. Therefore, we can push forward the establishment of the policy-based financial institutions such as the SCO Development Bank to offer preferential loans, special loans, and to set up special foundations to provide financial support for the cross-regional cooperation in infrastructure investment.

8 Third, build large-scale highlight projects for their leading and demonstrating effect. Last year, we officially launched the planning of the Euro-Asia Economic Forum Comprehensive Park, where consulates of European and Asian countries, Silk Road Courier Stations, the SCO University and a number of infrastructure cooperation projects are open to investment from Europe. We hope to create a number of successful highlight cooperation projects to play a leading and demonstrating role, and then to see infrastructure investment cooperation on a larger scale to gradually take place. Fourth, strengthen information and intermediary services to create favorable conditions for foreign investment. The Forum will tap into its own think tank network and align with relevant research institutions and chambers of commerce to release joint research report, to build databases for investment information and to take other measures to guide and help Chinese businesses to fully understand and familiarize themselves with laws and policies, business rules and cultural traditions of the host country, as well as to provide better information services to European companies investing in China. Cicero, the Roman philosopher and politician said this about friendship: "what sweetness is left in life, if you take

9 away friendship? Robbing life of friendship is like robbing the world of the sun." I believe in the spirit of the great friendship inspired by the Silk Road, the Sino-Europe cooperation in infrastructure investment will be a great success. Thank you all!

10 Euro-Asia Economic Forum as a Platform for Promoting Sino-Europe Cooperation on Infrastructure Investment Deputy Secretary-General of the Euro-Asia Economic Forum WANG Tao (June.9 th, 2014)

11 The Ancient Silk Road ROME CHANG A N

12 Over 1000 years ago, depict scenes of Romans settling down in Chang'an.

13 Last year, the Chinese leadership put forward the initiative of building the Silk Road Economic Zone.

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15 Sino-Italian Culture, Economy and Trade Development Forum Italian own 2013 Euro-asia Economic Forum Di Xi an International Fashion Week

16 Italy Fashion Show.2013 in 南门瓮城

17 Xi'an, Pompeii, Gyumri, New Delhi, Lisbon, Jinzhou and other seven cities along the silk road signed Xi'an Declaration on Building the Silk Road Economic Zone

18 Chinese Business Investment Euro-Asia Report Shanghai Cooperation Organization Development Report Euro-Asia Economic Forum Development Report

19 THE ISSUES OF INFRASTRUCTURE INVESTMENT BETWEEN CHINA AND EUROPE

20 1. We need to further release the investment potentials in the cooperation between China and Europe.

21 2. Investment cooperation between China and Europe should focus more on infrastructural areas.

22 3. The expansion of infrastructure investment requires efforts from both China and the Europe.

23 THE EURO-ASIA ECONOMIC FORUM PROMOTE SINO-EURO COOPERATION IN INFRASTRUCTURE INVESTMENT IN FOUR MEASURES

24 1. Coordinate policies to make investment more convenient. foster partnerships share information about investment projects offer open, transparent and favorable conditions for infrastructure investment cooperation solve policy barriers and obstacles

25 2. Push forward the establishment of policy-based financial institutions to fulfill capital gaps in investment.

26 3. Build large-scale highlight projects for their leading and demonstrating effect.

27 4. Strengthen information and intermediary services to create favorable conditions for foreign investment. tap into its own think tank network release joint research report build databases for investment information

28 THINK YOU