China-Europe ties set to blossom in Sofia

The seventh Leaders' Meeting between China and Central and Eastern European Countries is set to open on Saturday in Sofia, capital of Bulgaria, which is known as the land of roses. This will soon be followed by the 20th China-European Union Summit in Beijing. These summits are important barometers of relations between China and Europe, two major players in international relations.

Launched in 2012, "16+1 cooperation" (16 CEE countries plus China) has seen notable growth in two-way trade, investment and people-to-people exchanges. Thanks to strong economic complementarity, enthusiastic participation by the CEE countries, and particularly the solid momentum created by the Belt and Road Initiative, the 16+1 cooperation mechanism is now well on its way to becoming a platform for wider Europe to participate in and benefit from the Belt and Road Initiative.

Following the principles of equal consultation and shared benefits, China has signed Belt and Road cooperation agreements with all the 16 CEE countries. The two sides have initiated major connectivity projects such as Budapest-Belgrade Railways, China-Europe Land Sea Express Line and the Adriatic-Baltic-Black Sea Port Area cooperation, and established the China-CEEC Investment Cooperation Fund and 16+1 Inter-Bank Association.