The Fourth Round China-France Third-Party Market Cooperation Pilot Project List Signed

Source: Department of Foreign Capital and Overseas Investment / Updated: 2022-02-14

For the sake of implementing the important consensus reached between leaders of  China and France on developing the Third-Party Market cooperation, the National Development and Reform Commission (NDRC) has been in close contact with the French Ministry for the Economy and Finance, French Treasury and relevant companies. Recently, the Fourth Round China-France Third-Party Market Cooperation Pilot Project List was signed.

During Prime Minister Li Keqiang’s visit to France in June of 2015, the Chinese Government and the French Government issued the Joint Declaration between China and France on the Partnerships in Third-Party Markets. During the Fourth China-France High Level Economic and Financial Dialogue held in November of 2016, NDRC and French Treasury signed the Memorandum of Understanding on the Establishment of the Steering Committee for China-France Third-Party Market Cooperation.The committee is a platform for Third-Party Market cooperation and is led by NDRC and French Treasury with the participation of the Chinese Ministry of Foreign Affairs, the Chinese Ministry of Commerce and the French Ministry for Europe and Foreign Affairs. Thenceforth, governments, companies and financial institutions of both countries, overcoming multiple challenges brought by the COVID-19 pandemic, have worked actively with three steering committee meetings convened,  four round Pilot Project lists signed and seminars on the Third-Party Market cooperation jointly held and promoted the implementation of key projects in Africa, Southeast Asia, Central and Eastern Europe and etc. that are demonstrative of the cooperation. The Fourth Round China-France Third-Party Market Cooperation Pilot Project List includes 7 projects in such areas as infrastructure, environmental protection and new energy with a total value of 1.7 billion USD. The cooperation, mainly in Africa, Southeast Asia and Central and Eastern Europe, has adopted a great variety of modes including joint financing, joint investment Chinese EPC+ French investment, etc. It will play an active role in promoting the economic and social development of the third countries.

France is the first country to establish the Third-Party Market intergovernmental cooperation mechanism with China. Taking companies as main participants, the development of China-France Third-Party Market cooperation is market-oriented and in line with the laws and regulations of the host countries and the development priorities in the plan of relevant countries. It is based on economic feasibility, social and environmental sustainability and upholds the principle of mutual benefits, common consultations, market rules and fair competition. As to comparative advantages of both countries, French companies excel at advanced manufacturing, environment protection engineering construction while Chinese companies have accumulated rich experience in infrastructure construction, energy, equipment manufacturing and the Internet. With companies boasting respective advantages and strong complementarities, China and France have great potential for developing Third-Party Market cooperation. In the future, NDRC will work closely with the French Treasury to proactively set up platforms for companies of both countries to develop the Third-Party Market cooperation, create favorable conditions and promote the implementation of more Pilot Projects.