1/10/2018

MACRON OFFERS CHINA

*EUROPE IS BACK*


Macron offers China to invest in France

BEIJING : President Emmanuel Macron offered on Tuesday to open up the French economy to Chinese investment in exchange for greater access to China's booming markets, warning-

In talks in Beijing that existing trade imbalances would lead to protectionism.

On the first state visit of his eight-month old presidency, Macron is hoping greater openness from China coupled with lobbying from the 50-strong business delegation traveling with him, will help narrow Euro 30 billion trade deficit Paris runs with Beijing.

BUT despite bringing with him a delegation of french business, finance and industry -including senior exectives from Airbus, BNP Parbas, AccorHotels, EDF and LVMH -there were no immediate announcements-

On the second leg of his three-day trip of major deals.

Instead, smaller contracts or commitments to go on talking were .

BNP Paribas was set to announce plans for a joint-venture on consumer credit, a French official in Beijing said, adding that the French nuclear group Areva had  ''never been so close'' to signing a contract to build a nuclear waste reprocessing plant in China.

''We have an access to markets which is unbalanced and unsatisfying.'' Macron told members of the french and Chinese business community at start-up incubator in Beijing.

''If we don't deal with this responsibly, the first, natural, reaction will be to close up on both sides.''

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