Business / Economy

China eyes to become high-tech exporter

(Xinhua) Updated: 2014-06-20 09:44

BEIJING - High-speed rail were once again buzzwords in Chinese diplomacy this week as they were included in a joint statement issued in London after a meeting between visiting Chinese Premier Li Keqiang and British Prime Minister David Cameron.

This was not the first time that Li has promoted China's high-speed rail technology to other countries during overseas visits, but it was the first to a Western developed country.

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China eyes to become high-tech exporter
In the document, the two sides agreed to promote cooperation on design and construction of railways, including high-speed rail, paving the way for Chinese enterprises to participate in one of Britain's largest infrastructure projects HS2 (High Speed 2), a rail project linking London and the north of England.

High-speed rail has become a new "image card" for China. A video of a Chinese bullet train made its way to Times Square, New York, this year, showcasing the advanced equipment.

Behind the "high-speed rail diplomacy" is China's endeavor to shift from labor-intensive and low-end manufacturing to an innovation hub for high-end technology.

Apart from high-speed rail, Britain, the cradle of the Industrial Revolution, also expressed a willingness to welcome investment in energy, particularly nuclear, offshore wind power and photovoltaic projects, the joint statement said.

During Li's trip, trade and investment deals worth over $30 billion were signed between Chinese and British firms in areas of finance, technology, education, energy and infrastructure.

"China is striving to grasp the opportunities brought by a new technological and industrial revolution," said Liang Xiaohong, Party chief of the China Academy of Launch Vehicle Technology.

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