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| Version 1 | Version 2 |
|---|---|
| Officials Market French Economy to China | Officials Market French Economy to China |
| (about 20 hours later) | |
| HONG KONG — French leaders and top officials are winding up a slew of meetings with China’s new leadership, an effort to market the troubled French and euro zone economies to a powerful investor. | HONG KONG — French leaders and top officials are winding up a slew of meetings with China’s new leadership, an effort to market the troubled French and euro zone economies to a powerful investor. |
| “More and more things are happening here,” said Laurent Fabius, the French foreign minister, in a speech in Hong Kong on Monday. “The world of tomorrow is emerging in places such as Hong Kong, Shanghai or Singapore, and France is fully committed to be part of this movement.” | “More and more things are happening here,” said Laurent Fabius, the French foreign minister, in a speech in Hong Kong on Monday. “The world of tomorrow is emerging in places such as Hong Kong, Shanghai or Singapore, and France is fully committed to be part of this movement.” |
| Mr. Fabius accompanied the French president, François Hollande, on a two-day visit to Beijing and Shanghai in late April, the first visit by a leading European politician to China since President Xi Jinping and Prime Minister Li Keqiang were officially installed as China’s top leaders in March. France’s finance minister, Pierre Moscovici, joined the courting with a visit to Hong Kong. | |
| The high-level meetings reflect the eagerness of France -- and many of its euro zone neighbors – to woo an economy that has become an increasingly important engine of global growth in recent years. Chinese purchases of Western government debt have helped beleaguered Western economies weather the global financial turmoil of recent years, while its consumers are increasingly crucial to many European and American retailers and manufacturers. | The high-level meetings reflect the eagerness of France -- and many of its euro zone neighbors – to woo an economy that has become an increasingly important engine of global growth in recent years. Chinese purchases of Western government debt have helped beleaguered Western economies weather the global financial turmoil of recent years, while its consumers are increasingly crucial to many European and American retailers and manufacturers. |
| In an example of its purchasing prowess for big-ticket items, China in late April signed a deal with Airbus, the European plane manufacturer, for 60 aircraft worth at least $8 billion at list prices. | In an example of its purchasing prowess for big-ticket items, China in late April signed a deal with Airbus, the European plane manufacturer, for 60 aircraft worth at least $8 billion at list prices. |
| The gradual shift of China’s economy away from infrastructure investment toward more domestic consumer demand, however, is expected to generate growing demand for other industries in the coming years – with potential businesses opportunities to match. | The gradual shift of China’s economy away from infrastructure investment toward more domestic consumer demand, however, is expected to generate growing demand for other industries in the coming years – with potential businesses opportunities to match. |
| Mr. Fabius on Monday made no secret of the fact that France is hoping to get a slice of the pie in growing sectors like health care, agricultural products, the food and beverage, and products and services that will aid urbanization – which the new Chinese leadership has declared a key driver of future growth. | Mr. Fabius on Monday made no secret of the fact that France is hoping to get a slice of the pie in growing sectors like health care, agricultural products, the food and beverage, and products and services that will aid urbanization – which the new Chinese leadership has declared a key driver of future growth. |
| France’s exports to China are currently dominated by luxury goods, aircraft and nuclear energy sectors. The rising wages and development of better social security systems that will come with China’s economic rebalancing “opens new opportunities for French companies, which they are willing to seize,” Mr. Fabius said, adding that France’s trade deficit with China currently totaled about 26 billion euros. | France’s exports to China are currently dominated by luxury goods, aircraft and nuclear energy sectors. The rising wages and development of better social security systems that will come with China’s economic rebalancing “opens new opportunities for French companies, which they are willing to seize,” Mr. Fabius said, adding that France’s trade deficit with China currently totaled about 26 billion euros. |
| As part of France’s efforts to attract Chinese cash, Mr. Hollande, during his visit to China last month, pledged to make it easier for Chinese business travelers, tourists and students to visit France. | As part of France’s efforts to attract Chinese cash, Mr. Hollande, during his visit to China last month, pledged to make it easier for Chinese business travelers, tourists and students to visit France. |
| On Monday, France and Hong Kong signed a bilateral working holiday program that will allow French and Hong Kong citizens aged from 18 through 30 to spend one year in the other country, and to take up employment, if necessary, to finance their stay. | On Monday, France and Hong Kong signed a bilateral working holiday program that will allow French and Hong Kong citizens aged from 18 through 30 to spend one year in the other country, and to take up employment, if necessary, to finance their stay. |
This article has been revised to reflect the following correction: | |
| Correction: May 7, 2013 | |
An earlier version of this article misstated François Hollande’s title as French leader. He is president, not prime minister. |