Phoenix TV:

This year marks the 60th anniversary of the establishment of diplomatic relations between China and France. Over the past six decades, the two countries have enjoyed increasingly close cooperation in economy and trade. In 2023, the bilateral trade volume reached $78.9 billion, and China's imports of goods from France grew 5.5% year on year. Could you please provide an overview of the current situation regarding imports and exports between the two countries? Additionally, what kinds of expectations do you have for the future? Thank you.

Lyu Daliang:

I will first brief you on the trade situation between the two countries. In March 2019, President Xi Jinping paid a visit to France, which opened a new chapter for Sino-French relations. During the past five years, the two countries have deepened their economic and trade cooperation and achieved fruitful results. From 2019 to 2023, China's imports and exports with France grew by 5.9% annually. At present, France is China's third-largest trading partner within the EU, while China is France's largest trading partner in Asia. In the first quarter of this year, China's imports and exports with France reached 127.22 billion yuan.

In the agricultural products sector, France is China's largest source of imports in the EU. In 2023, China imported French agricultural products with a value of 46.95 billion yuan, up by 50.5% from 2019, and its import value approached 10 billion yuan in the first quarter of 2024. More and more agricultural products, including dairy products, pork and wine sourced from French farms nearly 10,000 kilometers away, are making their way onto Chinese dinner tables.

In the consumer goods sector, China's imports from France grew 12.3% annually during the past five years. Among them, imports of cosmetics, bags, jewelry, clothing, and clocks and watches have exceeded double-digit growth in terms of the average annual growth rate. At the same time, Chinese products have become increasingly popular in France. During the past five years, China's consumer goods exports to France grew by 3.9% annually. In the first quarter of this year, China's exports of household appliances, mobile phones, furniture and toys to France increased by 30.6%, 27%, 24.3% and 28%, respectively.

In the high-tech products sector, France is China's major source of imports for aircraft and aerospace components, which accounted for around 30% of China's total import volume of the same kind in the past five years. Currently, the two countries are expanding their cooperation on sci-tech innovation. During the past five years, China's imports of material technology products, biotechnology products, and integrated circuits from France grew annually by 38.8%, 13.9% and 14%, respectively, enjoying double-digit growth. In the first quarter of this year, imports of these products exceeded double-digit growth.

Regarding your second question, as China and France strengthen their comprehensive strategic partnership, they will expand exchanges and cooperation widely and deeply through close communication and coordination, pushing their bilateral economic and trade relations to a new level. Thank you.