2012 vital year for Chine's economy: upbeat Hu

2012 is a vital year for China as it moves into a new five-year plan, an upbeat Chinese President Hu Jintao said Friday in the first and only public speech of his three-day state visit to Denmark which ends Saturday.

"This year is an important one. We go into a new five-year plan. Chinese economic development paints a positive picture now," Hu told guests at a state dinner hosted by Denmark's Queen Margrethe II.

"We have strengthened the macroeconomic regulation, growth quicker, prices are being stabilised and efficiency is good. We have improved the population's living standards," Hu said.

He added that China's 12th five-year plan and Europe's 2020 strategy had a lot to offer each other and that China's decision to increase domestic demand, increase imports and open up the service sector would expand the horizon for Danish and European exports to China.

"We will speed up changes to the economic growth model and develop new strategic sectors in China. This will attract more European investment in new technology and strengthen European cooperation with China," the Chinese president said.

"China will strengthen copyright protection and improve the investment environment for foreign investment. This will help European capital and industry to achieve growth in China," Hu said.

Praising Denmark as a "unique" player in Europe, Hu said China was particularly interested in Denmark's high expertise in biomedicine, foodstuffs, green economy, energy saving, environmental protection and technological innovation.

The Chinese president said that new cultural centres were to increase understanding "by following the principle of bilateral respect and benefit".

Hu spoke only hours after a long list of major Danish and Chinese companies had signed cooperation agreements which the Danish government has suggested were worth at least DKK 18 billion (three billion dollars) over the next few years.

Among the agreements are an investment pact between Danish-Swedish dairy producer Arla and China's Mengniu Dairy Company, which Arla said will multiply the Scandinavian dairy's DKK 700 million ($119 million) exports to China by five.

Other agreements signed included a strategic partnership between Denmark's largest private equity fund Axcel and its Chinese counterpart Fosun International Ltd -- China's leading investment company.

The world's largest container shipping group A.P. Moller-Maersk's independent subsidiary APM Terminals signed an agreement to build a harbour terminal in China and the Carlsberg brewery group is to build a new vast brewery in Yunnan Province, while the Danfoss engineering company and the engineering design consultants COWI are to sign an agreement to provide a district heating system for the Chinese city of Anshan in the northeastern Liaoning Province.

President Hu was Saturday due to hold political talks with Denmark's Prime Minister Helle Thorning-Schmidt before leaving Denmark for Mexico where he is to take part in next week's G-20 meeting.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • ‘Conflict to affect economic growth, stability in SEA’
    ‘Conflict to affect economic growth, stability in SEA’

    Conflict in the South China Sea can affect economic growth and stability in Southeast Asia, New Zealand warned yesterday, amid China’s aggressive reclamation activities in disputed waters. New Zealand is marking its 40 th year of diplomatic ties with the Association of Southeast Asian Nations, and hopes to intensify trade and other linkages with the 10-member grouping. ASEAN members Brunei, Malaysia, the Philippines and Vietnam have overlapping territorial claims with China over the Spratly …

  • OIC asked to complete review of peace pact with MNLF
    OIC asked to complete review of peace pact with MNLF

    The Philippine government is asking the 57-nation Organization of Islamic Cooperation (OIC) to finally complete the tripartite review process of the implementation of the 1996 peace agreement with the Moro National Liberation Front (MNLF). The review – snagged  for several years as government had its hands full with the peace process with rival faction Moro Islamic Liberation Front (MILF) – tackles how the 1996 peace pact with the MNLF has been implemented and centers on the three remaining …

  • Alleged Binay dummies appear in Senate probe
    Alleged Binay dummies appear in Senate probe

    Eight of the resource persons ordered arrested by the Senate finally attended the 21st public hearing of the Senate Blue Ribbon subcommittee into the alleged anomalies involving Vice President Jejomar Binay, but the proceedings turned out to be a review of matters previously presented. For over three hours, the subcommittee heard presentations regarding the alleged hidden assets of Binay and the issue regarding the supposed P200 million in kickbacks he received from a deal between the Boy …

  • DOJ wraps up Mamasapano probe
    DOJ wraps up Mamasapano probe

    The Department of Justice (DOJ) is wrapping up its investigation into the “massacre” of 44 members of the Philippine National Police Special Action Force (PNP-SAF) in Mamasapano, Maguindanao last Jan. 25. A joint team of prosecutors and NBI (National Bureau of Investigation) investigators is about to finish the second part,” Justice Secretary Leila de Lima has told congressmen. Pagdilao stressed that it has been more than a month since De Lima announced to the media that the DOJ would be …

  • APEC meet in Bataan seen to boost tourism
    APEC meet in Bataan seen to boost tourism

    BALANGA CITY, Bataan – More than 2,000 delegates of the Asia-Pacific Economic Cooperation (APEC) and international media outfits are expected to enjoy the splendid coastline of Bagac town, which faces the West Philippine Sea, as they converge for a workshop in this province next month. …

  • DOST opens P54-M research facility
    DOST opens P54-M research facility

    A P54-million research and development facility of the Department of Science and Technology (DOST) was recently opened in Bicutan, Taguig for scientists and researchers to develop technology and techniques to allow Filipino fashion and clothing designers and manufacturers to produce more mainstream products from local, tropical fabrics like piña, banana and abaca. Science Secretary Mario Montejo said the Innovation Center for Yarns and Textiles (ICYT) is the DOST’s flagship effort at reviving …

  • DFA worried about alleged violations of convicted Pinoys’ rights
    DFA worried about alleged violations of convicted Pinoys’ rights

    Philippine embassy officials in Doha have raised their concern with Qatari authorities over coercion and human rights violations in the alleged forcing of three Filipino workers convicted of spying to provide information and confess to the crime. Speaking to reporters, Department of Foreign Affairs (DFA) spokesman Charles Jose yesterday said the embassy has raised the matter during several high-level meetings with Qatari officials and the national human rights committee in Qatar. “Our embassy …

  • US affirms ‘ironclad’ promise to defend Phl
    US affirms ‘ironclad’ promise to defend Phl

    US Defense Secretary Ashton Carter told his Philippine counterpart on Wednesday that Washington’s pledge to defend the Pacific nation remains “ironclad” and called for an end to land reclamation in the South China Sea, officials said. In talks in Hawaii with Voltaire Gazmin, Philippine secretary of national defense, the Pentagon chief “reaffirmed” the strong ties between the two countries and discussed territorial disputes in the contested waters of the South China Sea, where Beijing has been …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options