The business delegation consisting of 60 French entrepreneurs accompanying the visit shows that French enterprises are still optimistic about the prospects of the Chinese market and are willing to increase their cooperation with China. /CFP 

French President Emmanuel Macron and European Commission President Ursula von der Leyen visited China from April 5 to 7. In the current context of intensifying global geopolitical confrontation and rising protectionism, the visit of the European leaders to China will help bring stability to economic and trade relations between China and France and China and the European Union, which is of great significance to ongoing economic cooperation. 

First of all, it will help the leaders of China, France and the EU to enhance mutual political trust. Due to the impact of COVID-19, the leaders of China, France and the EU have not been able to meet in person for the past three years, although there have been telephone and video calls. Especially in the context of the Ukraine crisis, the institutional narrative between China and the EU is divided, economic and trade differences have deepened, and misunderstandings have increased. This visit will help the leaders of China, France and the EU to address concerns and enhance mutual political trust. 

Secondly, it will help strengthen China-France and China-EU economic and trade cooperation. For a long time, China and France have developed pragmatic bilateral cooperation in various fields based on a high degree of bilateral political trust. The business delegation consisting of 60 French entrepreneurs accompanying the visit shows that French enterprises are still optimistic about the prospects of the Chinese market and are willing to increase their cooperation with China. In recent years, there have been some negative voices in the EU demanding that the bloc decouple from China, and von der Leyen expressed her view that this was neither viable nor in Europe's interest before she visited China. 

Finally, it helps to remove the uncertainty surrounding China-EU economic cooperation. This year marks the 20th year of the establishment of a comprehensive strategic partnership between China and the EU. The tripartite meeting between China, France and the EU will further enhance the stability of China-EU relations and clarify the policy proposition of China, France and the EU to jointly defend multilateralism and address global challenges. In the face of hegemonism and unilateralism, this is a clear statement that China-EU relations are not affected by, dependent on or subject to third party influence. This will allow China and the EU to focus on a common path for future development, fully restart contact at all levels and activate mutually beneficial cooperation in various fields. 

The meetings have allowed the Chinese, French and EU leaders to achieved rich results in economic cooperation on the basis of enhancing mutual political trust. 

First, China-France economic cooperation has been comprehensively activated. The two parties will maintain close communication at the head-of-state level and hold a new round of meetings under the three high-level mechanisms on strategic, economic and people-to-people dialogues this year. At the same time, the two countries will support each other's economic and trade agendas. France will be the guest of honor at the 2024 China International Fair for Trade in Services and the seventh China International Import Expo, and China will support France in organizing the 2025 United Nations Ocean Conference. 

Second, China-France practical cooperation has reached a new level. On the basis of cooperation in traditional fields such as agriculture, food, aerospace and civil nuclear energy, the two countries will further cultivate new growth points for cooperation in services, trade, green development, science and technological innovation. In particular, a new mechanism for building a carbon neutral center will be developed to enrich China-France green cooperation. 

Finally, certainty has been brought to China-EU economic and trade cooperation. During the meetings, Macron and von der Leyen both expressed opposition to decoupling and made it clear that decoupling from China is not in the interests of the EU and is not a strategic choice for the bloc. The European leaders hope to strengthen the communication and coordination of macroeconomic and financial policies between China and the EU and enhance green partnerships by strengthening dialogue and cooperation in the fields of green finance, environmental technology and clean energy. 

These meetings will bring more certainty to advance the stable and balanced development of China-EU economic and trade relations and achieve mutual benefits and win-win cooperation. 

Yang Chengyu, Associate Research Fellow at the Institute of European Studies, Chinese Academy of Social Sciences.         

The article was originally published in CGTN on April 7, 2023.