As the country's first demonstration zone for economic and trade cooperation between China and the Central and Eastern European Countries (CEEC), Ningbo in east China's Zhejiang Province is continuously deepening and expanding pragmatic cooperation with the CEEC.The city has built China's largest distribution center for CEEC goods, with a total area of ​​32,000 square meters.
Combining online and offline services, the center uses multiple ways, such as livestreaming and stockroom-style shopping, to help the CEEC explore the Chinese market.Since the launch of the demonstration zone in 2018, the average annual growth rate for trade between Ningbo and the CEEC has reached 18.3 percent.The 4th China-CEEC Expo & International Consumer Goods Fair will be held in Ningbo from May 22 to May 25.
The event is expected to be one of the main platforms for showcasing products from the CEEC, expanding imports from the CEEC, and promoting mutual investment between China and the CEEC.Fruitful cooperationSince establishing the cooperation mechanism between China and the CEEC 13 years ago, the two sides have jointly promoted the continuous development of the mechanism, achieved positive results, and set a model of trans-regional cooperation in the context of globalization.The two sides have established more than 50 cooperation platforms, introducing over 500 practical cooperation measures in areas such as transportation infrastructure, innovation, energy, culture, tourism, education, media, quarantine and health.Economic and trade relations between China and the CEEC have developed healthily and stably, presenting great opportunities for future cooperation.China's trade with the CEEC has grown at an average annual rate of 8.8 percent since 2012.
Meanwhile, its imports from the countries have grown at an average annual rate of 7.4 percent, according to the Ministry of Commerce.
China has become one of the important trading partners and sources of imports for the CEEC.In 2024, the country's trade with the CEEC increased by 6.3 percent year on year, reaching a record high of $142.3 billion, the ministry said.The two sides also saw more and more robust investment activities.
China's investment in the countries has exceeded $24 billion so far, according to incomplete statistics.A new highlight of China-CEEC investment cooperation has emerged in recent years as Chinese enterprises from the industrial chains for electric vehicles and power batteries intensified their investigation and investment in the CEEC.China is ready to work with the CEEC to expand cooperation and tap the potential to create a mutually beneficial and win-win economic and trade cooperation pattern, said Yu Yuantang, director of the European Department of the Chinese Ministry of Commerce, at a press conference on May 9.Enhanced connectivityOver the years, China has also continued to help the CEEC enhance their connectivity, with the two sides cooperating on more than 20 projects, including the Budapest-Belgrade railway, Greece's Piraeus Port, and the Ivovik wind power project in Bosnia and Herzegovina.Once on the brink of bankruptcy, the Piraeus Port has transformed into one of Europe's largest container and ferry terminals.
In 2024, the port posted record-high revenues and profits, with total revenue reaching 230.9 million euros (around $249.82 million), a five-percent increase from 2023.Meanwhile, China and the CEEC have also seen rapid development in strengthening exchanges.
China has launched a package of visa facilitation measures and a unilateral visa exemption policy for several countries in the region, aiming to deepen cultural exchanges and cooperation between the two sides.Currently, there are more than 50 direct passenger and cargo flights between China and the CEEC every week.
The number of people traveling between the two sides in 2024 increased by 56 percent compared with 2021.In the future, there will be important opportunities for China-CEEC cooperation, with China's efforts to comprehensively deepen high-level opening-up, as well as the establishment of various economic and trade platforms safeguarding bilateral cooperation, Yan Dong, deputy head of China's Ministry of Commerce, said during a press conference on May 9.The complementarity between China and the CEEC in the industry and trade of goods and services sectors also provides a new space for cooperation, Yan said.