CEEC doing brisk business with China

Central and Eastern European countries (CEEC) are set to attract more Chinese businesses seeking trade and investment opportunities across the region, said market watchers and domestic exporters, noting that strong economic complementarity will meaningfully contribute to both regional and global economic development.

Speaking ahead of the fourth China-CEEC Expo in Ningbo, East China's Zhejiang province, which runs from Thursday to Sunday, they said that against the backdrop of global economic challenges and trade policy uncertainties in the United States, companies from both sides are working to consolidate and expand their presence in each other's markets.

The CEEC offers a compelling combination of manufacturing capabilities, innovation potential and access to the broader European market, said Wan Zhe, a professor specializing in regional economic development at Beijing Normal University.

Combined with China's well-developed industrial base and growing demand for high-quality imports, and the connectivity offered by the China-Europe freight train service, Wan said the two sides present significant synergies in sectors such as green energy, digital technologies, healthcare and advanced manufacturing.

Sang Baichuan, dean of the University of International Business and Economics' Institute of International Economy in Beijing, said that rising uncertainty over US trade policy is driving companies in China and the CEEC to lessen their dependence on single markets and strengthen bilateral ties.

"This includes co-developing products, establishing joint ventures and enhancing infrastructure connectivity under the Belt and Road Initiative," said Sang.

Events like the China-CEEC Expo also serve as vital platforms for showcasing technological advances and forging cross-border business partnerships, he added.

According to the organizers, the fourth China-CEEC Expo spans 80,000 square meters this year, with the newly launched "Smart CEEC "section standing out as a key highlight. It features nearly 100 cutting-edge technologies and products from China and the CEEC, covering areas such as artificial intelligence, robotics and general aviation technology.

The CEEC is showcasing a range of innovative technologies, particularly in the fields of aviation and biomedicine, including a light aircraft from Austria, maritime safety sensors from Serbia and medical equipment from Slovakia.

Reflecting the deepening economic ties behind such exchanges, Zhejiang, a major hub for China-CEEC trade, saw robust growth in the first four months, with more than 20,000 foreign trade companies engaged in import and export activities with the CEEC, data from Hangzhou Customs showed.

In the meantime, Zhejiang's January-April total foreign trade with the CEEC reached 62.6 billion yuan ($8.69 billion), marking an 11.6 percent year-on-year increase. The province ranked second nationwide in both overall trade volume and exports to the CEEC.

Zhejiang Sanhua Commercial Refrigeration Co Ltd, a Shaoxing, Zhejiang-based manufacturer of intelligent control components for commercial and industrial refrigeration, saw its exports to the CEEC exceed 70 million yuan between January and April, a year-on-year increase of nearly 40 percent.

"Thanks to the continued advancement of cooperation between China and the CEEC, we have built up a solid customer base in countries like Poland, Slovakia and Hungary," said Wang Chunlan, a manager at the company's foreign trade unit.

According to data from Hangzhou Customs, Zhejiang exported 30.81 billion yuan worth of electromechanical products to the CEEC in the first four months, soaring 15.8 percent year-on-year, and accounting for 54.2 percent of the province's total exports to the region.