China to set up 10 billion dollar credit line in cooperation with Central-Eastern Europe

   Apr 26, 3:51 pm

Warsaw (Poland), April 26 (Xinhua-ANI): China has decided to set up a special line of credit worth of 10 billion U.S. dollars, partially in the form of preferential loans, to support cooperative projects with Central and Eastern Europe in infrastructure, technology and green economy.

Visiting Chinese Premier Wen Jiabao made the remarks when addressing the China-Central and Eastern Europe business forum here, saying the policy is aimed at accelerating the two sides' practical cooperation.

Meanwhile, China will establish an investment cooperation fund, the goal of which is to raise 500 million U.S. dollars, he said.

China will also expedite the establishment of economy and technology zones jointly with the Central and Eastern European countries in the coming five years, Wen said.

Wen called for deepening the friendly relations between China and Central and Eastern European countries and upgrading the level of bilateral practical cooperation.

The two sides should enlarge their cooperation scale, expand their cooperation field, perfect the cooperation mechanism and lay a solid foundation for cooperation, Wen said.

The premier said China is ready to make joint efforts with Central and Eastern European countries to expand market openness with each other and strive to promote bilateral trade volume to 100 billion U.S. dollars by 2015.

The two sides will carry out all-dimensional cooperation in trade, investment, infrastructure, tourism and other fields, Wen said.

It is necessary for the two sides to hold economic and trade forums and meetings of state leaders regularly, the premier said.

China will set up a China-Central and Eastern European Countries' Cooperation Secretariat that will be in charge of communication and coordination, he said.

China proposes hosting a cultural cooperation forum between China and Central and Eastern Europe next year and holding more cultural festivals in each other, Wen said.

The premier also proposed strengthening dialogue on educational policy and encouraged provinces and cities with friendly ties to each other to make a full play of their advantages to boost local cooperation with each other.

Wen said that although the international economic situation has improved since the start of this year, the foundation for economic recovery remains fragile and uncertain.

It was in the fundamental interests of both China and Central and Eastern Europe to jointly meet the challenges, Wen said.

Wen started his official visit to Poland on Wednesday. Poland is the last leg of his four-nation Europe tour. He has visited Iceland and Sweden and attended the opening ceremony of the Hannover Fair in Germany. (Xinhua-ANI)

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