Published: Fri, January 12, 2018
Finance | By Loren Pratt

Chinese retailer pledges to sell EUR2bn in French imports

Chinese retailer pledges to sell EUR2bn in French imports

President Macron also confirmed that he and his Chinese counterpart have discussed sales of Airbus A350 and the A380 superjumbo jet, with China still maintaining its order parity with Airbus and American rival Boeing.

"There is market share for France to take in China", said Jean-Marc Chaumet, an economist who specialises in China at the French Livestock Institute in Paris. Our relationship is anchored in time, and in my opinion is based on civilization, in the sense that France and China are two countries with very different cultures but which both have a universal calling.

"Trying to be competitive as a non-Chinese operator in China is extremely hard because they have a way of operating that is probably more efficient, more agile and lesser cost".

It is the first state visit by a European leader since China's Communist Party congress in October, which reinforced Xi's grip on power as he was formally handed a second term and his name was enshrined in the party's constitution.

BNP Paris was set to announce plans for a joint-venture on consumer credit, an official said, and added that French nuclear group Areva had "never been so close" to signing a contract to build a reprocessing plant in China.

Macron forged the slogan - an echo of United States president Donald Trump's "make America great again" - previous year to show his continued support for the Paris Agreement in the face of Trump's decision to withdraw the US.

French President Emmanuel Macron called on Tuesday for a more coordinated European approach to trade with China. "We're confident we'll achieve more than symbolic stuff", a French official said, on condition of anonymity. As well as aerospace, the agrifood sector is seen as key.

The president came to China with 50 business leaders and gave Xi a horse from the Republican Guard as a gift.

"The French foreign minister's November visit to China seemed to ignore human rights, giving an impression of insincerity and inconsistency on rights issues", Jeannerod said.

The French Development Agency and the state-run China Development Bank are due to sign a co-operation agreement for co-financing of projects to fight climate change in Africa.

Ninety percent of China's beef imports come now from Brazil, Uruguay, Australia and New Zealand.

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