The 11th EU-China Business Summit was held in the Great Hall of the People in Beijing on July 13. Premier Li Keqiang and Jean-Claude Juncker, president of the European Commission, were present and delivered speeches.

More than 600 entrepreneurs and senior managers attended the summit and discussed preparing for the new industrial revolution, boosting bilateral investment and deepening cooperation in transportation, energy and digital economy. Ren Hongbin, chairman of the China National Machinery Industry Corporation (Sinomach) delivered a speech at the plenary session.

Ren pointed out that China-EU economic cooperation is one of the pillars for the world economy, while the Road and Belt Initiative matches Europe’s development strategy, which is a new milestone in bilateral cooperation. It is of great significance in boosting China-EU economic and trade cooperation and development. Ren outlined Sinomach’s role and leadership in infrastructure development in countries along the Road and Belt, and proposed a fairer and more relaxed environment for cooperation and competition. Ren also called on his audience to spurn zero-sum thinking and step up matching of the Road and Belt Initiative and Europe’s development strategy while jointly developing third-party markets.

The summit, hosted by China's Ministry of Commerce and the European Commission, is an important part of China-EU leadership communications. It’s undertaken by the China Council for the Promotion of International Trade, the CEEMET and the European Union Chamber of Commerce in China. Leaders on both sides meet at the annual summit, where participants from industrial and commercial circles discuss hotspot issues in bilateral economic and trade cooperation. The summit has become the biggest and most influential session in the industry and commercial circles on both sides. It receives positive reviews from all participants.