China, CEE countries' economies complement each other

With similar development strategies, the Chinese and the Central and Eastern European (CEE) economies could complement each other, analysts said.[Special coverage]

The mutual complementarity is evident since China boasts an edge in capital and technology while the CEE countries urgently needs to upgrade the sectors like clean energy, infrastructure and telecommunication, Sorin Dimitriu, president of the Bucharest Chamber of Commerce and Industry, told Xinhua prior to a meeting between Chinese Premier Li Keqiang and leaders of the CEE countries.

The CEE region links Western Europe and the Balkans, connecting the markets as far as the Commonwealth of Independence States (CIS) and North Africa, and therefore could serve as a gateway for Chinese products to enter those markets, he said.

With identical visions for economic development, leaders from China and the CEE countries share a strong political will to carry out practical and constructive cooperation, he added.

The CEE countries hope for China's commitment to providing investment and financing, so that they could launch long-delayed energy and infrastructure projects, said Timothy Ash, an economist at Britain's Standard Chartered bank.

China sees the CEE as an entry point to access the European market and hopes to build stronger ties with the region in trade and agriculture, he said.

The analysts see the impact of China-CEE cooperation as far-reaching, since China could accumulate experiences in trade, overseas projects management and localization of Chinese enterprises abroad.

On the other hand, the cooperation is conducive to a more balanced economic development in Europe

This week in Romania, Chinese Premier Li Keqiang announced that China, Hungary and Serbia agreed to jointly build a railway between Hungary and Serbia.

He also said China and Romania have decided to set up working groups on major infrastructure cooperation projects.

Moreover, Li said that China is willing to actively consider importing more safe and high-quality farm products from the CEE countries.