China announced its intention to contribute to the Investment Plan, as well as closer cooperation with the EU on investment issues in general.
China Vice-Premier Ma Kai informed European Commission Vice-President Jyrki Katainen that China will contribute to the Commission’s EUR 315 billion Investment Plan for Europe. The announcement was made during the High Level Economic and Trade Dialogue in Beijing, on September 28, 2015.
“This is the right moment to invest in Europe, and I am delighted that China has announced its intention to contribute to the Investment Plan,”Vice-President Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said.
China is the first non-EU country to announce its contribution to the Plan.
As well as this announcement, the two sides agreed to set up a joint working group to increase cooperation between the EU and China on all aspects of investment. The working group will include experts from China’s Silk Road Fund, the Commission, and the European Investment Bank (EIB).
According to European Commission estimates, the Investment Plan has the potential to add at least EUR 330 to EUR 410 billion to the EU’s GDP and create 1 to 1.3 million new jobs over the coming years.
To date, nine EU Member States have announced contributions to the Investment Plan: Germany, France, Italy, Poland with EUR 8 billion each, UK, with EUR 8.5 billion and Spain (EUR 1.5 billion), Luxembourg (EUR 80 million), Slovakia (EUR 400 million) and Bulgaria (EUR 100 million).
Share on:
