Chinese enterprises look to expand investment in Europe

PARIS - Chinese entrepreneurs expect more opportunities to scale up outbound investment in Europe as they believe it will benefit both sides, Long Yongtu, co-chairman of the International Capital Conference (ICC), said here on Monday.

China has been leading in attracting foreign investment among emerging economies in the past 20 years, and Chinese entrepreneurs are now exploring opportunities for outbound investment as part of efforts to further involve themselves in economic globalization, Long said at the opening of the fourth ICC.

Taking capital investment and technology as a bridge, Chinese enterprises can go out to the outside world, learning from foreign business and enhancing their competitiveness, said Long, former vice minister of Foreign Trade and Economic Cooperation of China.

"We hope to settle Sino-European dispute through friendly negotiations based on international rules and principles of market economy to achieve a win-win result," Long said.

On the same occasion, Jean-Pierre Raffarin, former French prime minister and co-chairman of the ICC, reviewed the traditional friendship between China and France, calling for more two-way investment and continuous efforts to strengthen bilateral relations.

Mathiew Astill, CEO of the ICC organizer Cavendish Group, expected this year's conference to provide a platform for Chinese and EU entrepreneurs to hold dialogue and build relationship.

Meanwhile, participants in the conference, themed "Where Chinese and Western CEOs Build Relationship," warned of the trend of protectionism, saying it's harmful for world economy as it only protects weakness and destroys innovation and competitiveness.

They expressed willingness to work together to forge good relations between the EU and China and to further boost trade and economic cooperation.