China-Europe CEO Summit held in Shanghai

The China-Europe CEO Summit was held in Shanghai on Wednesday on the sidelines of the 7th China International Import Expo (CIIE), with multiple practical cooperation agreements achieved.

Themed "Green Development, Shared Future," the event welcomed nearly 600 entrepreneurs from China and Europe, including representatives from Global Fortune 500 companies.

The China-Europe Business Council (CEBC) released a report on the China-Europe business confidence survey during the event.

A CEBC new membership welcoming ceremony was also held during the summit. With over 10 new China-Europe companies joining, the alliance's membership was expanded from 52 to 100.

The Industrial and Commercial Bank of China (ICBC) signed agreements with multiple China-Europe enterprises on eight cooperation projects, covering areas such as multi-currency loans and cross-border transactions using the Chinese yuan, or renminbi.

For German aerospace company FACC, which describes the Commercial Aircraft Corporation of China (COMAC) as its "most important customer," ICBC is becoming an important supporting partner as this form of cooperation develops.

"So when if this trade relationship changes to renminbi, we need a much deeper cooperation with the ICBC bank close relationship bank accounts, maybe also funding transactions in renminbi. So this is the reason why we decided to go into a much deeper cooperation agreement," said Florian Heindl, CFO of FACC AG.

Ziga Vavpotic, head of the Slovenian-Chinese Business Council, said he is looking forward to seeing the group's members expand business in China.

"This year we are bringing actually three ministers to visit. In April we hosted the deputy prime minister visit with a big delegation. And I'm very happy that this time Minister (Matjaz) Han, who is the minister of economy, tourism and sport, is bringing to China about 50 business people," said Vavpotic.

Since the second CIIE, the China-Europe CEO Summit has been held for six consecutive years. Focusing on maintaining the stability of global industrial and supply chains, promoting the digital transformation of the economy, fostering innovation in green and low-carbon industries, and advocating for green development to share a sustainable future, the summit has provided a platform for communication, exchange, and practical cooperation between Chinese and European businesses.

The U.S. dollar increased in late trading on Wednesday.

The dollar index, which measures the greenback against six major peers, went up 0.04 percent to 96.834 at 15:00. (2000 GMT).

In late New York trading, the euro lost to 1.1882 dollars from 1.1894 dollars in the previous session, and the British pound decreased to 1.3637 dollars from 1.3666 dollars in the previous session.

The U.S. dollar bought 152.83 Japanese yen, lower than 154.49 Japanese yen of the previous session. The U.S. dollar rose to 0.7703 Swiss francs from 0.7682 Swiss francs, and it was up to 1.3561 Canadian dollars from 1.3551 Canadian dollars. The U.S. dollar fell to 8.8813 Swedish kronor from 8.9021 Swedish kronor.