China: Emmanuel Macron gets Agreements on Nuclear and Beef

Finance General News
Emmanuel Macron gets agreements on nuclear and beef

China visit on Monday 8th January, Emmanuel Macron clinched an agreement on Tuesday for Areva and the lifting of the Chinese embargo on beef

Emmanuel Macron , who hopes of re-balancing the trade relationship with Beijing, won this Tuesday 9th January, the second day of his visit to China, a providential agreement for Areva and announced a lifting of the chinese  embargo on beef .

Apart from economic issues, the two countries also agreed on the opening of the Pompidou Center in Shanghai .

10 billion, enough to “save the industry”

After a tour of the Forbidden City, former palace of the emperors of China, French President was officially welcomed to the colossal Hall of the People bordering Tiananmen Square in Beijing, from the salute with President Xi Jinping.

Following a bilateral meeting, the two leaders attended the signing of several documents, including a “memorandum for a trade agreement” on the construction by Areva of a processing plant for used nuclear fuel.

“This represents an immediate $ 10 billion, it will save the industry”, welcomed the delegation in the Economy Minister Bruno Le Maire.

This agreement is providential for Areva, former flagship in great difficulty of civilian nuclear power, which traded for 10 years with its Chinese partner CNNC.

“We have insurance contract with a maturity: his signature in the spring,” said Mr Mayor.

Also in the civil nuclear EPR reactor built by EDF in southern China, is expected to start in about six months, said the French presidency. It would be appropriate first operational EPR in the world, before those under construction in Flamanville (France) and Finland who have suffered numerous delays and extra costs.

« Pillage »

The French president had a total return in Paris fifty agreements and contracts. France seeks to “rebalance” its trade relations with China, which generates its largest deficit (30 billion euros in 2016).

China will fully lift “within six months” the ban on French beef that it imposed in 2001 following the crisis of mad cow disease, announced Mr Macron.

Paris also hoped to gain better access to the Chinese market for its other agricultural products (pigmeat, poultry, wine and spirits) and for its banks, and close sales of Airbus and Safran engines.

Emmanuel Macron is accompanied by fifty entrepreneurs whose include the leaders of Areva, Airbus, Safran and EDF .

In return, Paris wants to encourage Chinese investment in France, Bruno Le Maire told he would not want “pillage” Chinese projects. “We accept investments over the long term and not looting investments,” he said, in rather undiplomatic terms.

Emmanuel Macron attended the signing of a contract with the Chinese giant online sales, who has committed to sell its platforms for 2 billion euros of French products to Chinese consumers over the next two years, while declaring that he would set up in France.

The trade deficit of France with China
France-China trade (© AFP / Adrian Lac) (©© AFP / Adrian Lake)

A Pompidou in Shanghai

Mr Macron, who on Monday welcomed the massive infrastructure project of the “New Silk road” launched by Xi to anchor Europe to China, called on France to adapt to the second power challenge global economic. During a speech in Beijing in an incubator, the head of state warned:

China is trying to continue its economic development strategy and, given the size of this market, it has an impact on the whole globalization. The duty of France is to understand these movements (…) This implies a strong France, if France is not able to adapt, it will be erased.”

Apart from economic issues, the two countries agreed on the opening of the Pompidou Center in Shanghai.

After arriving Monday in Xian (North), Emmanuel Macron had started Tuesday’s Beijing day with a visit to the Forbidden City with his wife Brigitte. He was able to meditate a written decision to the emperors: “With equity govern from the center.”

Mr Macron will leave Beijing on Wednesday to go to Italy. In his first speech, he promised on Monday to return “at least once a year” in China to “create trust step by step.”

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