🌟 From lipsticks to nuclear power plants, the trade relationship between China and France has blossomed over the past 60 years, and it's still going strong!
Did you know that one in every three French lipsticks ends up in the hands of a Chinese customer? 💄 According to Fabrice Megarbane, president of L'Oreal North Asia Zone and CEO of L'Oreal China, Chinese shoppers can't get enough of French beauty products.
L'Oreal, the iconic French cosmetics giant, showcased its latest products at the China International Consumer Products Expo in Haikou, south China's Hainan Province, for the fourth time in April 2024. They're just one of many French companies seizing the chance to tap into the vibrant Chinese market.
Since establishing diplomatic ties in 1964, China and France have traded everything from wine and cheese 🧀🍷 to aircraft and satellites 🚀. France is now China's third-largest trading partner in the European Union, while China is France's largest trading partner in Asia.
Leveling Up Cooperation
The collaboration doesn't stop at consumer goods. China and France are teaming up in advanced fields like civil nuclear energy and aerospace. Airbus, for example, launched its second final assembly line project in Tianjin in 2023, showing their confidence in China's aviation future.
By the end of 2021, over 6,600 French companies had set up shop in China, investing more than $19 billion! 💰 With France being the Guest Country of Honor at major Chinese expos in 2024, opportunities are only growing.
Looking Ahead Together
Both countries are not just sticking to traditional partnerships but are exploring new horizons in the digital economy, green energy, and more. A 2023 survey showed that nearly half of French companies are planning to expand their businesses in China over the next three years.
As Chinese President Xi Jinping said, it's time to \"make the pie bigger for mutual benefit.\" 🍰 With 60 years behind them, China and France are gearing up for even greater cooperation in the future.
Reference(s):
Lipstick to civil nuclear: China-France economic and trade ties at 60
cgtn.com
