China and Belgium to deepen trade and investment relations

Chinese and Belgian officials vowed on Monday to deepen trade and investment relations as the two countries celebrate the 45th anniversary of their diplomatic relationship.

Belgian Prime Minister Charles Michel, who is on a two-day (October 30-31) visit to China, said at an economic forum that Belgium was willing to attract more Chinese investment and would continue with economic reform to boost the country's competitiveness.

"We have seen many good examples of Chinese investment in Belgium. We can do more and do better," Michel said.

Chinese Vice-Minister of Commerce Zhong Shan expressed similar hope at the forum, saying China was willing to import more goods from Belgium and would further open its market and improve the foreign investment policies to attract more Belgian investment.

"We are also willing to deepen cooperation with Belgium to jointly explore opportunities in other markets," Zhong said.

Bilateral trade between China and Belgium reached $23.2 billion last year. Chinese investment in Belgium also exceeded $3 billion by the end of last year, according to Zhong.

At the economic forum, Chinese insurer Anbang Insurance Group, the biggest Chinese investor in Belgium by far, unveiled a "one million euro" loan program, which will support Chinese individual entrepreneurs to invest and do business in Europe.

"The low interest rate in Europe and China's advantage of low labor cost will create huge market potential that will be win-win for both Chinese and Belgian companies," said Wu Xiaohui, chairman of the Anbang Insurance Group.