Joining hands in tapping the potential of profound friendship(2)

Third, explore new space for industrial cooperation. Cooperation in infrastructure and major projects are of great significance and will set fine examples for future cooperation. In recent years, China's technologies in high-speed railways, nuclear power, telecommunications and other areas have advanced rapidly, and China leads the world in the production capacity for steel, cement, plate glass and other construction materials. For CEECs, building major transport and IT projects requires more engineering machinery, upgraded equipment and locally produced raw materials. We enjoy broad prospects for cooperation in this regard. China is ready to build plants in CEECs by utilizing its advanced production capacity and equipment, which will help generate more local jobs. It would also be an effective way to cooperate by jointly developing industrial and technological parks. The Central Europe Trade and Logistics Cooperation Zone and Wanhua Industrial Park have now taken shape in Hungary. Bulgaria, the Czech Republic, Croatia, Romania, Serbia, Slovakia, Slovenia and other CEECs have all proposed to build industrial parks. We will actively encourage Chinese companies to take part in this endeavor. We will also expand imports from CEECs and promote the balance of trade through dynamic growth with a view to achieving the target of $100 billion for two-way trade at an early date. We need to make full use of the mechanism of the China-CEEC Local Leaders' Meeting and make sure that the localities play a bigger role in our cooperation.

Fourth, establish a new framework for investment and financing cooperation. To address the existing investment and financing difficulties in our cooperation, China has decided to establish a China-CEEC framework for investment and financing cooperation, consisting of three major elements: First, we will encourage CEECs to continue to make full use of the $10 billion special credit line. Considering the actual financial capacity of various countries, we will, in light of specific projects, provide loans with more preferential terms, lower financing costs and increase credit volume as appropriate. Second, we will encourage Chinese companies and financial institutions to take an active part in the PPP and privatization process in CEECs. China will set up a $3 billion investment fund and facilitate equity investment in countries in the region. Moreover, China will launch the $1 billion China-CEEC Investment Cooperation Fund (Stage Two) in support of investment projects in Central and Eastern Europe. Third, China welcomes the issuance of renminbi denominated bonds in China by CEEC companies and financial institutions and will work to explore the launch of a renminbi fund for investing in Central and Eastern Europe. In this way, we will be able to offer more financing means to projects, thus giving more impetus to China-CEEC cooperation.

Fifth, explore new areas of people-to-people exchanges. This year, the number of outbound Chinese tourists totaled more than 100 million. We need to make good plans for the 2015 Year of China-CEEC Tourism Cooperation and Promotion to encourage and attract more Chinese visitors to the beautiful landscape of Central and Eastern Europe. We need to enhance our exchanges in science, technology, culture, health and between our youths, women and media, and support the establishment of a scholars and think tanks center. We need to expand our exchange in education so as to nurture more globally competitive talents. China will double the number of government scholarships provided for CEEC students. It is also hoped that visa application procedures will continue to be simplified to facilitate people-to-people exchanges. We need to give full play to the role of the Secretariat for Cooperation between China and CEECs and vigorously support the development of cooperation associations and other institutions and platforms, so that our cooperation will be flourishing across the board.

Europe, home to the largest number of developed countries, has a major role to play in the global political and economic architecture. China and the European Union are now working to build a partnership of peace, growth, reform and civilization. We are natural partners for cooperation as we have no conflict of fundamental interests. China firmly supports a multi-polar world moving toward globalization as well as the process of European integration. We hope to see a more united, prosperous and stable Europe and a strong euro. CEECs are an important part of Europe. China and the 16 countries in the region enjoy a profound traditional friendship, strong political mutual trust and deepening practical cooperation. Our closer cooperation will bring benefits not only to our countries, but also to Europe as a whole, as such cooperation will play an important role in facilitating balanced growth within Europe.

As the saying goes, "True gold never loses its color even after repeated smelting; and the same remains true for real friends." China and CEECs are already old friends, and we are each other's new partners of cooperation. Though we are geographically distant, we make each other close neighbors in our hearts. I believe through our joint efforts, China-CEEC cooperation will flourish and enjoy even brighter prospects. China is ready to host the China-CEEC leaders' meeting in 2015. We count on your support in this effort, and I am sure that together, we will be able to take China-CEEC cooperation to a new high. I look forward to seeing you again in Beijing next year.