When accompanying leaders from 16 central and eastern European countries (CEE) to ride on China's most advanced bullet train on Wednesday, Chinese Premier Li Keqiang said "The trip mirrors China-CEE cooperation -- high speed, but comfortable and reassuring."[Special coverage]
It is reasonable for Premier Li to draw such a metaphor as the just-concluded China-CEE summit has explored ways to boost all-round and sustainable cooperation between the two sides, which will also, in turn, facilitate cooperation between China and the whole Europe.
FRUITFUL, PRAGMATIC RESULTS
During the summit in Suzhou on Nov. 24-25, China and CEE countries identified priority sectors for cooperation from 2015 to 2020, ranging from infrastructure, finance, agriculture to people-to-people exchange, in a latest efforts to make their cooperation and coordination step into an all-round way.
With the accompany of Premier Li, leaders of CEE countries got to experience the "China speed" firsthand on Wednesday by boarding a China-made bullet train from Suzhou to Shanghai, which represents China's most cutting-edge high-speed rail technologies.
A day before that, China signed separate deals with Hungary and Serbia to construct and revamp a railway link between the two countries' capital cities, Budapest and Belgrade. Li pledged that construction of the railway would be underway by the end of the year and be finished within two years.
Upon its completion, the railway will help create a fast lane for trading between China and Europe.
"The trip mirrors China-CEE cooperation -- high speed, but comfortable and reassuring," Li told the European leaders.
But for the summit, topics and achievements are far more than the high-speed railways.
China has said it is willing to invest in port projects in CEE countries, citing its rich experience in port design and equipment manufacturing, as China started its reform and opening-up policy in coastal areas.
China will also work with parties involved to promote building of the China-Europe land-sea express passage, which will help strengthen connectivity and scale up trade between China and European countries, Li said.
Besides, as financing is the short plank of China-CEE cooperation, also known as "16+1" mechanism, China and CEE countries will explore opportunities to bring into full play the role of the 10 billion U.S. dollar special credit line, to create a 3 billion dollar investment fund and to establish a RMB fund in support of "16+1" cooperation. Cooperation in currency swap, local currency settlement and financial regulation are encouraged. What is more, China and CEE nations will discuss the possibility of founding a multilateral financial firm.
As Premier Li said, the summit would not only enhance mutual trust but boost practical cooperation, which will boost the all-round cooperation between China and Europe.
HUGE POTENTIAL FOR COOPERATION
Established as an annual event in Poland's capital of Warsaw in 2012, and subsequently staged in Romanian capital Bucharest and Belgrade, capital of Serbia, the new platform has greatly increased scope for cooperation.
"Faced with sluggish global trade and economy, China and CEE countries have maintained good momentum on practical cooperation, witnessing rapidly growing trade, investment and major cooperation projects underway," Premier Li voiced confidence in bilateral economic ties at an economic and trade forum of the summit.
According to the Ministry of Commerce of China, the total annual trade volume between China and CEE countries registered 43.9 billion dollars in 2010, and it increased to 60.2 billion dollars in 2014.
