China-Europe CEO Summit held in Shanghai

The China-Europe CEO Summit was held in Shanghai on Wednesday on the sidelines of the 7th China International Import Expo (CIIE), with multiple practical cooperation agreements achieved.

Themed "Green Development, Shared Future," the event welcomed nearly 600 entrepreneurs from China and Europe, including representatives from Global Fortune 500 companies.

The China-Europe Business Council (CEBC) released a report on the China-Europe business confidence survey during the event.

A CEBC new membership welcoming ceremony was also held during the summit. With over 10 new China-Europe companies joining, the alliance's membership was expanded from 52 to 100.

The Industrial and Commercial Bank of China (ICBC) signed agreements with multiple China-Europe enterprises on eight cooperation projects, covering areas such as multi-currency loans and cross-border transactions using the Chinese yuan, or renminbi.

For German aerospace company FACC, which describes the Commercial Aircraft Corporation of China (COMAC) as its "most important customer," ICBC is becoming an important supporting partner as this form of cooperation develops.

"So when if this trade relationship changes to renminbi, we need a much deeper cooperation with the ICBC bank close relationship bank accounts, maybe also funding transactions in renminbi. So this is the reason why we decided to go into a much deeper cooperation agreement," said Florian Heindl, CFO of FACC AG.

Ziga Vavpotic, head of the Slovenian-Chinese Business Council, said he is looking forward to seeing the group's members expand business in China.

"This year we are bringing actually three ministers to visit. In April we hosted the deputy prime minister visit with a big delegation. And I'm very happy that this time Minister (Matjaz) Han, who is the minister of economy, tourism and sport, is bringing to China about 50 business people," said Vavpotic.

Since the second CIIE, the China-Europe CEO Summit has been held for six consecutive years. Focusing on maintaining the stability of global industrial and supply chains, promoting the digital transformation of the economy, fostering innovation in green and low-carbon industries, and advocating for green development to share a sustainable future, the summit has provided a platform for communication, exchange, and practical cooperation between Chinese and European businesses.

China-Europe CEO Summit held in Shanghai

Any provocative moves in the South China Sea will only lead to increased regional tensions, said Chinese Foreign Ministry spokeswoman Mao Ning at a regular press briefing in Beijing on Wednesday.

An official from the Philippines military said on Wednesday that joint naval exercises held frequently with the United States and other Western powers were aimed at curbing Chinese actions in the South China Sea.

In a response to such remarks, Mao said, "China has sovereignty over the South China Sea islands and their adjacent waters, and we safeguard our sovereign rights and interests in accordance with domestic and international laws. We always believe that defense and security cooperation between countries should be conducive to regional peace and stability, should not target a third party, and should not harm the interests of a third party. A show of force and provoking confrontation in the South China Sea will only exacerbate tensions and undermine regional stability."

Provocative moves in South China Sea will only increase tensions: spokeswoman