While in Beijing to revive economic talks, the French finance minister says he pressed Chinese leaders to open their markets wider to foreign companies. Bruno Le Maire also lobbied for investment in France’s electric car industry.
Officials of the 27-nation European Union are trying to narrow a trade deficit with China that swelled to 396 billion euros last year. Le Maire cited cosmetics, aerospace and agriculture as possible areas for more French exports.
Le Maire and Chinese officials pledged to cooperate on climate change, financing for developing countries and nuclear power. They announced plans to set up a group to settle a dispute over access to China’s market for cosmetics, a major French export. The talks were overshadowed by Russia’s war against Ukraine and complaints China might be helping Moscow evade Western sanctions, but Le Maire said he didn’t discuss the war with Chinese officials. However, he said it was in Beijing’s interest to end the 17-month-old war. President Emmanuel Macron’s security adviser, Emmanuel Bonne, said this month China was delivering “military equipment” to Russia but gave no details.
French counter-espionage officials believe a Chinese investor who bought control of Ommic in 2018 was trying to transfer chip manufacturing technology to China, according to the newspaper. The ruling Communist Party is trying to develop its own chip industry, but Washington has blocked access to advanced manufacturing tools and persuaded allies Japan and the Netherlands to impose their own restrictions.
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