China Joins European Development Bank (EBRD)

[Shotgunner51]

China joins European development bank - Yahoo News
December 14, 2015 2:43 PM

London (AFP) - The European Bank for Reconstruction and Development said Monday it had accepted China as a member, handing the world's second biggest economy investment routes into Europe, Africa and Middle East.

"China's membership of the EBRD will open up significant further opportunities for sustainable investment by Chinese groups in the regions where the EBRD works," bank president Suma Chakrabarti said in a statement.​

Founded in 1991 to aid central and east European states emerging from Soviet rule to make the transition toward market economies, the bank now oversees development projects in 36 countries, including Ukraine, Egypt and Mongolia.

Some of the countries where the London-based EBRD operates include what China calls the "Silk Road economic belt" where Beijing is developing trade and investment links.

"China could greatly contribute to EBRD as a transition bank by sharing our own experiences of transition," said People's Bank of China Governor Zhou Xiaochuan.​

Chinese membership of the institution had been seen as politically sensitive by some, given the EBRD's founding principles include commitment to "multiparty democracy"and "respect for human rights".

Most stakeholders in the bank, jointly owned by its 64 member nations, the European Union and the European Investment Bank, are European countries. But a raft of non-European states, including the United States and Japan, participate in decision-making.



Other links:

China officially joins the European development bank | Asia First
European Bank for Reconstruction & Development says, "yes" to China - CCTV News - CCTV.com English
China becomes EBRD shareholder - Global Times​

 

[mike2000 is back]

We welcome our Chinese partners in such win-win cooperation/trade. Unlike Russia, European Powers don't consider/see China as a threat.

EBRD approves China membership application
By Anthony Williams
@ebrdtony

16 Dec 2015

London based European Bank for Reconstruction and Development (EBRD) has approved a request by the Chinese authorities for China to become a shareholder of the Bank. The Board of Governors of the European Bank for Reconstruction and Development accepted China as a member and would join 64 other shareholders from advanced and developing nations.

The Governors are the highest authority representing the EBRD’s existing 66 shareholders, which up to now comprise 64 countries and two international organisations

EBRD President Sir Suma Chakrabarti welcomed the decision. “China’s membership of the EBRD will open up significant further opportunities for sustainable investment by Chinese groups in the regions where the EBRD works”, he said.

In a letter applying for membership of the EBRD, People’s Bank of China Governor Zhou Xiaochuan said the activities of the EBRD complemented efforts to support investment and economic connectivity in the regions which China is promoting as part of the One Belt and One Road Initiative (also known as the Land and Maritime Silk Road Initiative).

“China could greatly contribute to EBRD as a transition bank by sharing our own experiences of transition and use the Bank as a vehicle to exchange experiences and lessons learned with the Bank’s countries of operations,” he added.

For its part, the EBRD sees a lot of scope for working with Chinese companies on projects in its regions that meet the Bank’s criteria for investment. There is scope for cooperation throughout the EBRD’s regions of operation, ranging from central Asia to eastern Europe and North Africa.

The EBRD has also expressed its readiness to work with the new Beijing-based Asian Infrastructure Investment Bank, including on joint projects.

EBRD approves China membership application



Britain's role was also crucial is helping China get membership in this Organization. Win-Win cooperation.

The EIB in the United Kingdom
'Golden era' of China-UK relations to benefit world at large|2015 Xi Visit UK|chinadaily.com.cn

 

[Shotgunner51]

Good progress! It's another mutually beneficial deal.

From a China perspective, the EBRD is going to be a useful platform for many companies, especially those in top priority business sectors like manufacturing, infrastructure, energy production, transport and finance. For details of what EBRD does, please check EBRD site: Sectors and topics

Since inception in 1991, EBRD has worked in over 20,000 projects in 36 recipient countries, most of which are priority markets within scope of OBOR strategy i.e. SE Europe & Mediterranean, C Europe & Baltic, E Europe & Caucasus, C Asia, Russia, Turkey. These countries are pivotal to both Eurasian Economic Belt & Maritime Silk Road. The EBRD could offer China valuable local intel as well as first hand opportunities.

I believe EBRD will become one useful business platform for China exports and outbound FDI. China should continue to move on with EU on other strategic opportunities like EFSI, expanding currency swaps, and BIT (Bilateral Investment Treaty).

EFSI (European Fund for Strategic Investment)
The fund was proposed last year by European Commission President Jean-Claude Juncker. Various EU sovereign governments have put in seed money, by now France, Germany, Italy and Poland have each announced they will contribute 8 billion euros, while Spain and Luxembourg have pledged smaller contributions. The bloc is relying mainly on private investors and development banks to fund projects selected from an initial list of almost 2,000 submitted by the 28 member states of EU, from airports to flood defences, that are together worth 1.3 trillion euros. For more info check:
EUROPEAN FUND FOR STRATEGIC INVESTMENTS (EFSI) - JUNCKER PLAN
- Programme from European Commission
​

 

[TaiShang]

Unlike Russia, European Powers don't consider/see China as a threat.

Russia is a strategic partner of China.

EU is important in China's Eurasia strategy, which is mainly related to logistics and trade.

China is a great power with multi-literal diplomacy prowess. We are not your regular boring, muscle-flexing, militarist Atlanticist ally, so, you will definitely feel more comfortable anytime we invite you for a diplomacy dance.

The membership to EBRD was being cooked for a while now and I guess the AIIB has sped the things up. Overall a very positive development that goes in line with China's OBOR framework, as @Shotgunner51 has pointed out above.

 

[mike2000 is back]

We are not your regular boring, muscle-flexing, militarist Atlanticist ally

Yes, Russia is.

 

[TaiShang]

Yes, Russia is.

We do not care.

We perceive the US the same way as you perceive Russia.

You do not abandon the US for us. We do not abandon Russia for you.

Problem solved.

 

[mike2000 is back]

We do not care.

We perceive the US the same way as you perceive Russia.

You do not abandon the US for US. We do not abandon Russia for you.

Problem solved.

Why are you people on here so over protective of Russia? LOL I'm sure they can handle themselves.
Where did i say you should abandon Russia for the west?lol Every power looks after their interest PERIOD. You are acting as if you have some sort of emotional love/relationship with Russia. lol Its all about interests mate. Even the U.K cooperating with China on issues where we have mutual interests is because of our own interests as well, irrespective of our relations with the U.S, we look after our interests FIRST, everything else is secondary. There is no morality/emotion in geo politics. So chill, nobody is trying to break up your 'intimate' relationship with Russia.

 

[TaiShang]

Why are you people on here so over protective of Russia? LOL I'm sure they can handle themselves.

Let's say our national interests align.

As for being overprotective, think about US-UK relations. You have shed blood for each other in two Gulf Wars. I guess, considering the scale and scope of your own alliance, China and Russia have only taken some baby steps.

You are acting as if you have some sort of emotional love/relationship with Russia. lol Its all about interests mate.

That's what I have been stressing from the beginning. Our interests perfectly align in the face of Western onslaught. That's pretty pragmatist, unlike the deep civilizational/unconditional love across the Atlantic.

 

[mike2000 is back]

Let's say our national interests align.

As for being overprotective, think about US-UK relations. You have shed blood for each other in two Gulf Wars. I guess, considering the scale and scope of your own alliance, China and Russia have only taken some baby steps.



That's what I have been stressing from the beginning. Our interests perfectly align in the face of Western onslaught. That's pretty pragmatist, unlike the deep civilizational/unconditional love across the Atlantic.

Your national interests may align only to some extent. Since Russia still doesn't see/consider you as an ally. Think about it for one minute, if you are not allies even at the highest point in your relationship(judging by your past troubled relations. lol) where Russia is facing western pressure/sanctions then when do you think you will ever be allies when you are not even at the best period in your relationship?lol

For example even today Russia has never ever offer its support for you in any issues/disputes regarding your core interests in SCS, border disputes against India, nor against Japan etc etc. Ever wondered why? lol In fact Russia is not only arming India but also stocking tensions by arming Vietnam with any weapons they demand/can afford. lool
That's definitely not what i call partners/allies. lool

Anyway we are going off topic, This thread is about European trade relations with China. We can discuss Russia in other threads(hopefully this time it will be with Russian members here themselves, not Chinese acting as Russian spokesman .lol).

 

[Kyle Sun]

nice, let 's make some money

 

[Shotgunner51]

EU is important in China's Eurasia strategy, which is mainly related to logistics and trade.

China is a great power with multi-literal diplomacy prowess. We are not your regular boring, muscle-flexing, militarist Atlanticist ally, so, you will definitely feel more comfortable anytime we invite you for a diplomacy dance.

The membership to EBRD was being cooked for a while now and I guess the AIIB has sped the things up. Overall a very positive development that goes in line with China's OBOR framework, as @Shotgunner51 has pointed out above.

Your national interests may align only to some extent. Since Russia still doesn't see/consider you as an ally. Think about it for one minute, if you are not allies even at the highest point in your relationship(judging by your past troubled relations. lol) where Russia is facing western pressure/sanctions then when do you think you will ever be allies when you are not even at the best period in your relationship?lol

For example even today Russia has never ever offer its support for you in any issues/disputes regarding your core interests in SCS, border disputes against India, nor against Japan etc etc. Ever wondered why? lol In fact Russia is not only arming India but also stocking tensions by arming Vietnam with any weapons they demand/can afford. lool
That's definitely not what i call partners/allies. lool

Anyway we are going off topic, This thread is about European trade relations with China. We can discuss Russia in other threads(hopefully this time it will be with Russian members here themselves, not Chinese acting as Russian spokesman .lol).

Yes this EBRD deal is for sure a pragmatic one.

Geographically speaking, EU-CEE-Mediterranean-Russia-CAR fits perfectly into OBOR strategic framework (which also includes SSA-MENA-ASEAN), this target geography is exactly the focus where China is investing excessive reserves (through Sovereign Welfare Funds and other non-reserve assets) and re-investing trade surpluses ($382 billion in 2014; my forecast for 2015 is $600 billion). 24 years of experience & know-how in this territory is one value that EBRD brings to the table.

E&M machineries, capital goods and infrastructure are already becoming majority exports for China, which has been investing heavily on R&D to upgrade technological (31% of world's patent filings, 2014) & industrial-manufacturing-construction (49% of world's industrial design filings, 2014) capacities. Being far bigger than any country in industrial GDP ($4.422 trillion, 2014), manufacturing VA ($3.713 trillion, 2014), merchandise exports ($2.343 trillion, 2014) and high-tech exports ($560 billion, 2013), every platform that facilitate exports is a bonus, that includes EBRD.

For the sake of "Made in China 2025" and further expansion of China's industrial-financial capacity, I look forward to expanding Beijing-Moscow-Berlin economic integration, more business, more profits. Do you guys have any updates on China-EU progress on EFSI, BIT or additional currency swap? Update me if available, thanks!


Data sources:

WIPO Global Ranking – 2015 Edition
List of countries by GDP sector composition - Wikipedia, the free encyclopedia
Manufacturing, value added (current US$) | Data | Table
Merchandise exports (current US$) | Data | Table
High-technology exports (current US$) | Data | Table​

 

[TaiShang]

Your national interests may align only to some extent. Since Russia still doesn't see/consider you as an ally.

Leave it to us to decide. We are each other's best strategic partners in the way we define what strategic partnership should be. It is definitely not like the servitude-style Atlanticist alliance you enjoy over there.

It is our way.

Think about it for one minute, if you are not allies even at the highest point in your relationship(judging by your past troubled relations. lol) where Russia is facing western pressure/sanctions then when do you think you will ever be allies when you are not even at the best period in your relationship?lol

What is so much passion on your part to prove that we are not allies and further, we should not be allies? Yes, we are strategic partners functioning under certain institutions and the level of trust and partnership we have with Russia can never be established with the West. That's the reality because we are (China - the US led West) each other's anti-theses, at the end of the day.

China faces pressures, too, and it is pretty strong, and this makes our partnership more meaningful and urgent.

For example even today Russia has never ever offer its support for you in any issues/disputes regarding your core interests in SCS, border disputes against India, nor against Japan etc etc. Ever wondered why?

Like I said, the way we understand partnership is different from how the US manages and manhandles you. What we propose is strategic partnership, not a loose federation. They will do business with India just as we will do business with you, who sanction Russia. When it comes to urgent matters, however, we act together, like China and Russia did with respect to Syria. Issues such as SCS is manageable, there is no need to go alarmist, or call for a coalition of the willing. Mature great powers do it this way.

Anyway we are going off topic, This thread is about European trade relations with China. We can discuss Russia in other threads(hopefully this time it will be with Russian members here themselves, not Chinese acting as Russian spokesman .lol).

Sure, let's end the debate here. It is often your obsession with China-Russia strategic partnership that derails the threads, frankly. My friend, no worries. China won't be going anywhere.

 

[ahojunk]

China's membership of EBRD is officially confirmed.

-------------
China Joins European Bank EBRD
2016-01-15 20:28:17 CRIENGLISH.com Web Editor: Qian Shanming

A photo taken on Dec. 15, 2015 shows the headquarters of the European Bank for Reconstruction and Development (EBRD), London. [Photo: Xinhua]

China has officially joined the European Bank for Reconstruction and Development, becoming its 67th member.

The announcement was made after a meeting between EBRD president Suma Chakrabarti and Chinese Premier Li Keqiang in Beijing.

Li Keqiang says China's membership will help deepen bilateral cooperation between China and Europe.

For his part, Charabarti has described Chinese membership of the EBRD as a win-win-win scenario, saying it will provide a boost to China's "One Belt, One Road" initiative.

Charabarti is also due to attend the inauguration ceremony of the Beijing-based Asian Infrastructure Investment Bank this coming weekend.

Headquartered in London, the EBRD was founded in 1991, initially focusing on central and eastern Europe.

 

[Schutz]

Good for everyone, lots of positive and benefits with no real negatives.

Gotta laugh at stories like this never being on RT, if it was China joining some Russian type of bank it would be a 50 page thread on here and have 100 news stories.