China, EU aim to increase investments in ICT markets (2)

Officials discussed the creation of a high-level task force to identify concrete new opportunities for European businesses in China and Chinese businesses in Europe and the establishment of major investment funding and incentives focused on incubating hi-tech start-ups and collaborative innovation in both Europe and China.

This was the first time a group of Chinese company representatives met with their European counterparts at the headquarters of the European Commission "which sends an important political signal that both sides are committed to bolstering their existing ICT partnerships going forward," read a statement by ChinaEU, an international association promoting business ties between the two regions.

The body said it would jointly identify and elaborate specific priority projects and subsequently present them to the European Investment Bank for consideration by European and Chinese political leaders during the EU-China Summit.

READY FOR INVESTMENT

"China and its companies are ready to invest more in European digital markets," said Luigi Gambardella, founder and president of ChinaEU.

"We see great interest from both sides to enhance cooperation in internet, telecom and high tech segments. There is momentum for increasing the inflow of Chinese ICT investments in Europe, as well as creating new investment opportunities for European companies in China."

Xiao Ming, vice president of ZTE Global and president of ZTE Europe, said his company's focus is to "benefit European society by contributing to the steady development of ICT infrastructure and industry, including smart energy."

"We are very keen to work together with European industry and EU institutions to achieve these objectives. We don't want to be seen merely as a Chinese company. We wish to integrate with the local business environment and to be considered a truly European player," he said.

"The EU-China relationship is a story of friendship and strong cooperation," said Zhou Lihong, managing director of the Bank of China Luxembourg.

"Telecommunications nowadays captures a profound sense of the future, and it is the responsibility of all the actors involved to support the necessary technological development. The banking industry will play its role of strategic partner to tackle these challenging opportunities," she said.