Xi Jinping Europe Tour: How important is Europe for China, will the dragon swallow it if it leaves us?
Xi Jinping Europe Tour: The Chinese President has set out to promote China-Europe relations through France, Serbia, and Hungary, which has been greatly affected during the Covid period. Let us try to know how important Europe is for China, what are China's relations with European countries and what is the import and export between them.
Chinese President Xi Jinping will be on a Europe tour between May 5 and 10.
The President of China is on a visit to three European countries. Between May 5 and 10, he will meet French President Emmanuel Macron, Serbian President Aleksandar Vucic, Hungarian President Sulayok Tamas, and Prime Minister Orban Viktor. These countries have invited him to visit them. Anyway, this is the first visit of a Chinese President to Europe in the last five years.
The Chinese President has set out to promote China-Europe relations through France, Serbia, and Hungary, which have been greatly affected during the Covid period. Let us try to know how China's relations are with these European countries and what is the import and export between them.
Paris, the capital of France, was Xi Jinping's first stop.
Xi Jinping reached the French capital Paris on the first stop of his visit, where he met President Emmanuel Macron and European Commission Chief Ursula von der Leyen. However, Jinping also had to face opposition from those demanding Tibet's independence in Paris. Earlier, between April 5 and 7 in the year 2023, Macron had visited China with Ursula von der Leyen. The purpose of these visits is to increase trade between the European Union and China.
Exports ranging from airplanes and helicopters to beauty products
Anyway, if we talk about exports from France only, in the year 2022, France had exported 25.4 billion dollars to China. These include airplanes, helicopters, and spacecraft worth $3.4 billion. China also imported trunks and cases worth $2.08 billion and beauty products worth $1.8 billion from France. France is the world's largest supplier of beauty products.
Annual increase of 8.54 percent in exports from France to China
Anyway, in the last 27 years, exports from France to China have increased at an annual rate of 8.54 percent from $ 2.7 billion in 1995 to $ 25.4 billion by the year 2022. In the year 2022 alone, China exported goods worth $49.8 billion to France, which included broadcasting equipment, computers, and seats. Exports from China to France have increased at the rate of 9.55 percent in the last 27 years.
China imports raw metals from Serbia, exports these goods
At the same time, Serbia exported goods worth $1.3 billion to China in the year 2022. These include copper ore (raw copper), refined copper, and other valuable raw metals. In the last 16 years, exports from Serbia to China have increased by 36 percent annually, and from $9.5 million in 2006, it has increased to $1.3 billion by 2022.
At the same time, China exported broadcasting equipment, steam boilers, and air pumps worth $3.47 billion to Serbia in 2022. As compared to $757 million in 2006, this export has increased to $3.47 billion by 2022. Anyway, Serbia is considered China's first strategic partner in Central and Eastern Europe. This is Xi Jinping's first visit to Serbia in the last eight years.
Hungary is China's main partner in the construction of Belt and Road
The main goods exported from Hungary to China are navigation equipment, cars, and computers. In the year 2022, Hungary exported $2.89 billion to China. At the same time, the major goods exported from China to Hungary include telephones, electric batteries, and broadcasting equipment. China exported goods worth $10.5 billion to Hungary in 2022. Hungary is China's main partner in the construction of the Belt and Road. Apart from this, Hungary and China are important partners in promoting cooperation in Central and Eastern European countries.
China is more dependent on Europe
As far as the interdependence of China and Europe is concerned, a report released by the Chamber of Commerce of the European Union (EU) in China on 21 September 2021 can be cited. It was told that Europe exports goods worth 600 million euros to China every day. At the same time, China sends goods worth 1.3 billion euros to Europe. That means China is more dependent on it than Europe. This is the reason why Xi Jinping has set out on a trip to Europe. China wants this business to grow further, and for this, the visit of the Chinese President is very important. If the situation in Europe worsens, China's economy will be directly affected.
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