In the northeast, five's company

Australia, Britain, France and the EU gather with Chinese business leaders

As China's business leaders think about how to boost innovation as economic growth slows, more than a few countries and many more businesses are only too willing to give them a helping hand.

Among them are Australia, Britain, France and the European Union, whose ambassadors in China headed business delegations at a forum in Northeast China late last month that looked at the possibilities.

In Shenyang, Liaoning province, the ambassadors met some of China's top businesspeople and government officials at the China Green Companies Summit, and talked about areas in which they believe they can work more extensively with China.

The meeting attracted more than 1,400 entrepreneurs, officials and experts. It was organized by China Entrepreneur Club, comprised of 46 leaders of some of the country's top private companies.

Hans Dietmar Schweisgut, European Union ambassador to China, says the EU is now China's biggest global partner, and EU-China trade accounts for about one-seventh of global trade.

However, there is a lot of room for increased trade in high-tech products, and urbanization and the environment should be areas where China and its partners can work more closely, he says.

Schweisgut says he is also looking for more opportunities in the trade in services. This accounts for only 10 percent of the trade in goods between China and the EU, he says. There is a lot of room for growth, he says, given that the EU's exports of services are particularly high, accounting for about 20 percent of the world's service exports.

"There's one new instrument that we set up in Europe, which I think will offer additional opportunities for Chinese companies, and that is the European Fund for Strategic Investments, which could mobilize more than 300 billion euros ($333.6 billion)."

The fund is open to investors from outside the EU, he says.

It focuses on areas such as education, energy efficiency, infrastructure, innovation, research and development, and transport, and some Chinese entrepreneurs and related organizations have shown interest.

The EU has responded energetically to China's One Road, One Belt initiative and is looking forward to working with it, he says.

French Ambassador to China, Maurice Gourdault-Montagne, says his country hopes to continue working with Chinese companies in aviation and energy. France is also looking for growth in industries such as healthcare, he says.

French companies have set up collaborative organizations in Wuhan, capital of Hubei province, and have senior care programs in Beijing, he says.

Food safety also holds good prospects, he says, and China and France can work together closely in agriculture.

Another area of interest is urbanization, and the growing demand for a clean environment, clean water, good transport and efficient use of energy. These provide opportunities for Chinese and French companies to work with one another, Gourdault-Montagne says.

Australian Ambassador to China Frances Adamson says that for the two countries, resources and energy are pillars of their long-term relationship, but there is great potential in other areas, including agriculture, e-commerce and tourism.

Tourism is one of Australia's most important industries, she says. The country is blessed not only with beautiful and unique scenery and wildlife, but also highly developed cities and infrastructure, which make it attractive to Chinese, she says.

Chinese have become the biggest income generator for the country's tourist industry, she says, and it is ready to welcome more.

Agriculture is also very important for the country.

"With the growing Chinese middle class and demand for high-quality, fresh, safe agricultural products, Australia is ready to help."

Agricultural trade between China and Australia is now worth more than $10 billion a year.

Australian companies would do well to form good relationships with Chinese e-commerce companies such as JD.com and Alibaba Group, Adamson says, and invite them to Australia so they can explain how China's e-commerce has grown so quickly.

With the help of these companies, many good Australian products could be sold in the likes of Shenyang and other big Chinese cities, she says.

British Ambassador to China Barbara Woodward, says she looks forward to the two countries working together in creative industries, education, innovation and services.

Woodward says she is glad to see the internationalization of the renminbi, and happy that London has played an important role in this. Given London's strength in financial services, and that Britain has strong legal and healthcare systems, she sees a lot of scope for the two countries to work together in those areas.

Both sides also have a lot to gain in teacher exchanges, she says.

A conference in Shanghai in March on creative industries highlighted the opportunities for the two countries to work together in innovation, Woodward says.

Contact the writers through chenyingqun@chinadaily.com.cn

(China Daily Africa Weekly 05/01/2015 page15)