Chinese trade delegation to Europe expected to sign deals

A business delegation of about 200 Chinese entrepreneurs left on Tuesday afternoon for Germany, the first stop of a European visit, to sign a series of big trade deals in a move to strengthen Sino-European trade and commercial ties.

The procurement team, led by commerce minister Chen Deming and composed of state-owned, joint venture and private companies from various industries, will visit Germany, Switzerland, Spain and the United Kingdom.

During their stay in Europe until Saturday, the Chinese companies plan to sign deals for automobiles, machinery, aircraft engines, railway equipment and components, olive oil and food.

Vice commerce minister Gao Hucheng described the trip as an important action following Premier Wen Jiabao's visit to the four European countries early this month.

It reflects China's commitment to an open market and our goodwill to help with world economic recovery by closer economic cooperation with other countries, Gao said.

Wang Yong, secretary-general with Brand China Industry Union, estimated the value of the deals could reach 12 to 15 billion U.S. dollars.

Source: Xinhua