Jens Eskelund, President of the European Union Chamber of Commerce in China, emphasized that creating value for local markets is crucial for the success of both Chinese and European companies in each other's countries, reflecting on 50 years of China-EU engagement.
Eskelund made the remarks in an interview with China Global Television Network (CGTN) aired on Thursday, coinciding with the 25th China-EU Summit in Beijing.
China and the EU are now each other's second-largest trading partners, with economic complementarity being a key feature of their cooperation.
"I think the key to European companies' success in China has been that we have always been asking ourselves, 'What's in it for China?' We know that our access to the market goes hand in hand with the value we create for the local market. And I think if Chinese companies increasingly are looking at what's in it for Europe -- we would like to trade to Europe, but we also need to recognize that we need to create opportunity, prosperity, development in Europe, for example, through greenfield investments -- then I think that a lot of the tension that we face today could go away. I don't think there's a single mayor in Europe who would say no, if you have a Chinese company saying I'm going to create 5,000 jobs, I'm going to localize my supply chains, I'm going to do R and D here, pay my taxes here. They'll be welcomed. So I think it's all about considering how do you create value in the local market. And that's a useful experience I think, from Europe in China that maybe can be applied the other way around," said Eskelund, also Maersk's North Asia Chief Representative.
This year marks the 50th anniversary of the establishment of diplomatic ties between China and the EU. The past half-century has witnessed remarkable developments in China-EU cooperation. The bilateral trade volume of goods increased from 2.4 billion U.S. dollars in 1975 to 785.8 billion dollars in 2024.
In 2003, China and the EU established a comprehensive strategic partnership. The two sides have established over 70 consultation and dialogue mechanisms that cover various fields, including politics, economy and trade, humanities, science and technology, energy, and the environment.
Additionally, the two sides have increased cooperation in the areas of digital and green transition.
EU business leader in China underlines creating value in each other's markets
China's two major power grid operators -- the State Grid Corporation of China (State Grid) and China Southern Power Grid (CSG) -- reported a surge in investment in the first quarter of 2026, underscoring efforts to strengthen infrastructure construction and support high-quality socioeconomic development in China.
The State Grid said it completed fixed-asset investment worth 129 billion yuan (about 18.77 billion U.S. dollars) in the first three months of this year, up 37 percent the corresponding period of the previous year. The spending has driven more than 250 billion yuan (36 billion U.S. dollars) of investment across the wider industrial chain.
Key projects such as the Panxi ultra-high-voltage (UHV) alternating current (AC) line and the Anhui-Hubei back-to-back direct current (DC) project have seen ground broken for their construction, while several west-to-east power transmission projects have been upgraded.
Investment in connecting renewable energy generation to the grid was reported to have exceeded 10 billion yuan (1.45 billion U.S. dollars) from January to March, a year-on-year rise of more than 50 percent.
The CSG also reported robust growth in investment in the three-month period, with fixed-asset investment reaching 38.45 billion yuan (5.58 billion U.S. dollars), up about 50 percent from a year earlier.
Among its achievements, the company completed and commissioned 80 key projects, including the 220 kV cross-sea power grid interconnection project, which was officially put into operation on March 20. The project ended years of grid isolation on the Weizhou Island in south China by linking it to the main power system of the Guangxi Zhuang Autonomous Region.
The construction of 17 other major energy projects, including one linking the power grid of the Xizang Autonomous Region in southwest China with that of Guangdong Province in south China, is advancing rapidly. These projects are expected to bolster regional industries, the maritime economy, digital collaboration and the transition to green energy.
"By accelerating major project construction, investment during the 15th Five-Year Plan period (2026-2030) is expected to approach 1 trillion yuan (145 billion U.S. dollars), driving a further 2 trillion yuan (290 billion U.S. dollars) of investment across upstream and downstream industries," said Dong Yanle, deputy general manager of the Engineering Construction Department under the China Southern Power Grid.
China ramps up power grid investment in January-March to boost growth
