China´s procurement in Europe commitment to world economy

Source: Xinhua | 02-28-2009 08:47

LONDON, Feb. 27 (Xinhua) -- China's procurement delegation arrived here on Friday for their final leg of the four-nation Europe tour, sealing deals amounting to some 2 billion U.S. dollars in Britain to show the country's commitment to the world economy despite threats of gloomy recession.

The event-packed visit in Britain has seen Chinese Commerce Minister Chen Deming having a working lunch with British Secretary for Business, Enterprise and Regulatory Reform, before both attending the signing ceremony of 11 contracts and agreement between the two countries.

The agreements covered wide ranging areas including textile material, metal services, airplane and automobile parts, eco-town building and motion pictures, with Hainan Airlines Co. Ltd striking the largest deal totaling 1.2 billion dollars with Rolls-Royce Plc under which the latter is to provide 20 engines for the Airbus 330 of the Hong Kong fleet, as well as service support for 15 years.

"This (the signing of contractual agreements) is just a beginning of our trade ties this year. A further group of Chinese businesses will come to Britain in a week's time to explore trade and investment opportunities," said Minister Chen, who led a 150-strong delegation composed of government officials, businesses and enterprises for a trip of commitment to Germany, Switzerland, Spain and Britain.

The four-nation trip serves as a follow-up to Chinese Premier Wen Jiabao's latest "trip of confidence," during which both China and Britain had agreed to push bilateral trade to 60 billion dollars by 2010.

Delivering a key-note speech at a symposium later organized by the China-Britain Business Council and China Chamber of Commerce for Import & Export of Machinery & Electronic Products, Chen told an audience of over 600 business people from both China and Britain that at a globalized society, no country could stand alone without engaging with one another.