The European Union should look to learn from China and tap into the various advantages offered by the vast Chinese market across a broad spectrum of fast-developing industries, according to Slovakia's Deputy Prime Minister Denisa Sakova.
Sakova is currently in Shanghai to attend the seventh China International Import Expo (CIIE), which is running through to Nov. 10 under the theme of "New Era, Shared Future," and has attracted participants from 152 countries, regions and international organizations.
In an interview with the China Global Television Network (CGTN) on the opening day of the expo on Tuesday, Sakova said Slovakia is looking forward to future cooperation with China and noted there are many areas for potential collaboration including in the energy, automotive and infrastructure industries.
"We have to learn something from China within the European Union, and we would like to customize it for the European market. China is the biggest market and you have 1.4 billion people and it [has] really good potential to import everything. Also there is a potential for industry, for the automotive industry. Of course, there is the area of renewables, energy grid, traffic infrastructure. There are several potential areas for our cooperation and collaboration in the future," said Sakova in an interview on opening day of the expo on Tuesday.
First held in 2018, the CIIE is the world's first national-level exhibition dedicated to import. This year, the event has achieved a new record with 297 Fortune Global 500 companies and industry leaders in attendance, which experts say signals confidence in the Chinese market amid a sluggish global economic recovery.
EU should learn from China, explore potential cooperation: Slovakian deputy PM
The massive production complex of BASF in Zhanjiang City in south China's Guangdong Province has become a major symbol of China-Germany cooperation and green power utilization.
The company on Thursday put the multibillion-euro site into full operation, marking the largest single investment project wholly owned by a German enterprise in China.
With an investment of 8.7 billion euros, the integrated site covers about 4 square kilometers, the company said. Industry analysts say the project underscores BASF's long-term commitment to expanding in China as the country continues to promote high-standard opening up.
Unlike traditional plants, it runs entirely on green power, using 100 percent renewable electricity and fully electric-driven compressors for its core steam cracker.
"By utilizing 100 percent of the renewable energy, our products made in Zhanjiang contribute also significantly to the lower carbon product footprint. Our current product footprint for such a site like ours will probably be around 4 million tons of CO2. And today, we are at 1.7 million tons of CO2," said Haryono Lim, president of Mega Projects Asia at BASF.
Cutting carbon emissions by more than half, the Zhanjiang site is setting new benchmarks for sustainable chemical production.
"We wanted to distinctively move to South China to participate in the strong growth around the Pearl River Delta and in Guangdong Province. And then, of course, Zhanjiang offers great opportunities with its good infrastructure, deep-sea harbor, and great support by the local government," said Markus Kamieth, CEO of BASF.
The local government's support has been key to the company's growth in the region, and the project is now driving broader green ambitions.
"BASF's full operation boosts the region's low-carbon hydrogen transition by developing the hydrogen value chain to attract related industries, supplying low-cost green power from offshore wind and solar, driving green upgrades in local petrochemicals and steel, and helping build a national pilot zone for zero-carbon industrial parks," said Yang Jiedong, director of the Administrative Committee of Zhanjiang Economic and Technological Development Zone.
BASF Zhanjiang production complex goes fully green, using 100 percent renewable electricity
