Xi Agrees to Invest More in France at the Request of Macron

Chinese leader Xi Jinping said Thursday that he will support Chinese companies willing to invest in France at the request of French president Emmanuel Macron.

"We must find a framework for increasing Chinese direct investment in Europe, and in France in particular, to create added value and opportunities for employment.” said Macron at a joint press conference.

Trade with China makes up over 40% of France’s trade deficit —totalling more than $50 billion dollars. The two leaders signed 12 cooperation deals, ranging from bilateral investment, nuclear energy and panda conservation.

It’s Macron’s 4th state visit to China while in office. He called on China to transfer technology in batteries, electric vehicles and solar panels. He also urged Chinese companies to take part in Europe’s development.

This highlights a widening technology gap between the two countries in certain sectors. 2 decades ago, China mainly exported basic consumer goods to France, such as clothes, tables and chairs. Last year, top Chinese exports to France were EV batteries, laptops, solar panels and turbojet engine components.

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