DG ECFIN at Shanghai Expo

DG ECFIN at Shanghai Expo

DG ECFIN organised a workshop on "How can the EU and China Contribute to a Sound and Sustainable Global Economic Recovery?" at the Belgium-EU Pavilion at Shanghai World Expo on the afternoon of July 3.


Keynote speakers were Hu Xiaolian, deputy governor of the People's Bank of China, Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, and Gert Jan Koopman, Director (ECFIN). About 100 participants (officials, scholars, and senior executives) from both China and EU attended the workshop and the questions and answers sessions were very lively.

Notwithstanding the divergences between EU and China in terms of actual and potential growth, level of development, fiscal situation and inflation, participants stressed that the EU and China are major global economic players, have developed very strong and important trade and investment relations and have a common interest in strengthening their economic cooperation at both bilateral and multilateral level, in particular in the G20.

Enhanced cooperation between the two economies will also be beneficial for the world economy. Of course, the economic policy challenges that EU and China are facing are different. The need for structural reforms and appropriate fiscal consolidation measures was stressed by EU speakers while Chinese speakers focused on the need for measures to rebalance growth towards domestic consumption as well as the to further develop the social safety net. The workshop also allowed for explaining the many measures taken in the EU to improve financial regulation and supervision while Chinese representatives outlined the plans , and the challenges, for making Shanghai a world financial centre by 2020.


Related links

Photo Gallery

DG ECFIN at Shanghai Expo

High resolution jpeg - 12 MB [12 MB]

Last update: 08/03/2012 | Top