INTRODUCTION: The Chinese government said on Monday (30 March) that its economic policies will prevent a rapid increase in trade and economic co-operation between China and the European Economic Community (EEC).
GV EEC building in Brussels. (MUTE)
CU Sign "EEC China Business Week" PAN TO GV Brussels building
SV Chinese delegation arriving and greeted. (2 SHOTS)
SV Chinese Delegation leader meeting EEC President Gaston Thorn.
GV PAN Delegates To Chinese delegation leader speaking. (SOUND) (2 SHOTS)
GV INTERIOR Factories in China. (2 SHOTS) (LIBRARY FILM) MUTE)
CU Chinese exports to EEC. (2 SHOTS)
SV TILT DOWN Silk. (2 SHOTS)
SV Coal being mined. (2 SHOTS)
SV Steel foundry molten steel. (3 SHOTS)
SV Machinery, tools, precision machines. (3 SHOTS)
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Background: INTRODUCTION: The Chinese government said on Monday (30 March) that its economic policies will prevent a rapid increase in trade and economic co-operation between China and the European Economic Community (EEC). But Chinese Vice Premier Gu Mu, speaking at the opening of a special trade meeting between the EEC and China, stressed that the slowdown would only be temporary.
SYNOPSIS: The two-week business meeting is taking place in Brussels and Vice Premier Gu brought 100 delegates with him -- the largest mission ever sent abroad by Peking. China readjusted its economic policies in 1979, switching the emphasis from heavy industry to light industry and agriculture. As a result, major foreign orders worth two billion dollars were cancelled. China now wants to convince European businessmen that it's a reliable business partner and will eventually be an attractive market for European goods,
In his opening address, Mr. Gu told the audience of company representatives that when his country's economic readjustment began to bear fruit, China would move from being a potential world market to an active one.
Last year, bilateral trade between China and the European Community came to five billion dollars. China's exports included pharmaceutical products like medicines and cosmetics. In other areas of light industry, China sold consumer goods like shoes, thermos flasks, straw goods and silk to European buyers. There were, as always, the inevitable shipments of tea. The major natural resource exported was coal.
Chinese coal is used in European steel mills and they in turn ship their products back to China. Major items on China's European shopping list in 1980 included heavy industrial machines, industrial tools and precision equipment.
At the Brussels meeting, Vice Premier Gu told the EEC Commission leaders that China wanted to increase all levels of trade with the European Community. But he said Soviet expansionism threatened the move. He urged the Community as a whole to play a more active role in international affairs.