Trade cooperation between China and France among efforts delivering mutual benefits

With the continuous strengthening of Sino-French exchanges, bilateral economic and trade cooperation has achieved leaps in scale, quality and scope, injecting impetus into the economic growth of both countries.

On Nov 26, the Sino-French Future Industry Cooperation Forum was held in Nanjing, Jiangsu province under the theme "charting the course for future industries, jointly building an innovation highland".

The forum drew participation from four major French aerospace giants. Senior executives from companies including Thales Group, Veolia Group, Safran Group, Airbus China and Dassault Systemes took to the stage and shared the latest technological achievements and global industrial layouts in areas such as intelligent manufacturing, future energy and aerospace.

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This shows that the bilateral cooperation in cutting-edge fields such as intelligent manufacturing and future energy has shifted "from the dialogue stage to the project implementation stage", according to the experts on-site.

In the 1980s, Nanjing and France began to launch in-depth cooperation, making Nanjing a gateway for Sino-French economic and trade exchanges. In 2014, to celebrate the 50th anniversary of the establishment of diplomatic relations between China and France, the two countries jointly issued two commemorative postage stamps, featuring the Qinhuai River in Nanjing and the Seine River in Paris respectively.

Nanjing has become a preferred destination for French-funded enterprises to develop in China. Up to now, a total of 114 French-funded projects have been approved and established in the city, with actual utilized foreign capital reaching $1.16 billion.

At present, Nanjing's annual foreign trade volume with France exceeds $1 billion. In 2024, the contracted foreign capital of newly established French-funded projects in Nanjing was $73.91 million, and the actual received capital was $68.29 million.

A number of French enterprises are rooted in Nanjing. Examples include Arc France and BNP Paribas, which have been operating in the city for more than 20 years. Dassault Group and Valeo Group have also chosen Nanjing for their China regional headquarters.

The significance of Sino-French trade is reflected in the participation of French exhibitors at the eighth China International Import Expo, which was held from Nov 5 to 10 in Shanghai. This was the eighth consecutive year that France has set up a national pavilion at the CIIE.

Twelve French enterprises in the pavilion showcased new products and services in sectors such as beauty, industry, food, wine and spirits, health, energy, logistics and cutting-edge technology; many of which were designed for the Chinese market.

"China is France's largest trading partner in Asia. In 2024, the total bilateral trade volume reached 95 billion euros ($110 billion), of which France's exports to China stood at 24 billion euros," said Nicolas Forissier, French minister delegate for foreign trade and economic attractiveness, at the eighth CIIE. He expressed his delight at the continuous strengthening of trade exchanges between the two countries in recent years, emphasizing the importance of achieving a more balanced trade relationship.

Before the opening of the eighth CIIE, Forissier visited China on Nov 4, hoping to take the opportunity to meet with French enterprises that export to China or choose to develop in China.

Forissier said that numerous chairpersons and CEOs of French enterprises were attending the eighth CIIE, and that more than 100 French exhibitors were taking part in the event. "This fully demonstrates the importance of the Chinese market to French enterprises. These enterprises are committed to deepening their development in the Chinese market and promoting their technologies, expertise and brands."

The cooperation of the two countries is expanding from traditional industries to high-tech sectors. Enterprises from both sides have jointly established research and development centers and innovation alliances, accelerating the commercialization of technological achievements into productive forces.

On Oct 15, a conference centering on Sino-French trade and investment cooperation was held in Paris. The event attracted more than 100 Chinese enterprises, 80 French investment enterprises, and more than 300 representatives from political, business and academic circles of both countries.

The conference focused on the actual needs of Chinese enterprises expanding into the French and European markets, aimed at building an in-depth exchange platform for enterprises of both countries. It covered core topics such as two-way investment, green transition and innovation cooperation.

During the conference, Dai Junpeng, counselor of the economic and commercial office of the Chinese embassy in France, noted that China and France are important economic and trade partners. Their cooperation is expanding from traditional industries to emerging fields such as green low-carbon, digital economy and biomedicine and is achieving results. The success of French enterprises in China confirms that "investing in China is investing in the future" and "believing in China is believing in tomorrow".

Herve Azoulay, a professor at the Paris-based Silk Road Business School, noted that China has formed a comprehensive innovation ecosystem integrating technological innovation and scientific research.

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France is known for innovation and quality while China leads with forceful execution and industrial scales. Through cooperation, the two sides can build future value chains in fields such as energy, healthcare, transportation, green finance and artificial intelligence, and promote a new pattern of "integrated governance" centered on sustainability and shared innovation, Azoulay said.

The project signing ceremony held during the conference covered multiple cooperation areas including life science and healthy lifestyle experiences, customized training programs for Chinese enterprises going global, and drone performances.

The signing and implementation of these projects mark that cooperation between Chinese and French enterprises in technological innovation, industrial cooperation and people-to-people exchanges has entered a substantive promotion stage. Such cooperation also opened up broader space for Chinese enterprises to "go global" and French capital to "come in", experts at the conference said.