France and China to build new financial and industrial partnership in nuclear sector

China – Fourth France-China High-Level Economic and Financial Dialogue/G20 – Communiqué issued by the Ministry of the Economy and Finance

Paris, 14 November 2016

At Bercy [Economy and Finance Ministry] on 14 November, M. Michel Sapin, Minister of the Economy and Finance, accompanied by M. Christophe Sirugue, Minister of State for Industry, and Mr Ma Kai, Vice-Premier of China, co-chaired the fourth France-China High-Level Economic and Financial Dialogue, which has become a special forum for the Franco-Chinese bilateral relationship.

The first one took place in Beijing on 26 November 2013. This dialogue was established as a result of Presidents Xi Jinping and François Hollande asserting their wish to give fresh impetus to Franco-Chinese relations.

The fourth session of this dialogue provided an opportunity to exchange views on the results of China’s G20 presidency, particularly regarding France’s priorities such as the fight against financing terrorism, the fight against tax avoidance and the promotion of climate change-resilient growth, in the momentum created by the Paris Agreement.

This session also provided an opportunity to assess bilateral commercial and industrial relations and map out ways forward for them. As such, Michel Sapin reiterated the importance for France of our relations being guided by a principle of reciprocity and mutual benefits. The progress made by France-China partnerships in third markets – a totally new initiative which testifies to the great level of trust between our two countries at the highest level of the state – was specifically highlighted. Michel Sapin and Christophe Sirugue welcome the signature of two agreements which set the seal on the initiative’s operational development: the agreement linking CDC International Capital to the CIC sovereign fund for the creation of a mechanism for co-investing in third countries, and the agreement setting up the steering committee for France-China partnerships in third countries. The steering committee will spearhead our partnerships and monitor their progress.

Furthermore, this dialogue allowed notable headway to be made on the conditions governing the involvement of Chinese companies in the overhaul of the French nuclear industry, in order to build a new financial and industrial partnership in the nuclear sector which is balanced and respects the interests of the two countries.

Finally, this exchange [of views] highlighted the strengths of the Paris financial centre in the internationalization of China’s currency, the renminbi, and as regards green finance./.

Published on 04/12/2017

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