A delegation of MEPs from the European Parliament‘s Special committee on the financial, economic and social crisis (CRIS) headed by Chairman Wolf Klinz (ALDE, DE) visited China. MEPs met high level officials, representatives of the business and academia in Beijing and Shanghai. The intention of the visit is for the EU and China to take all the lessons of this crisis and be fair partners in all global institutions.

The delegation of seven MEPs (Mr Wolf Klinz, ALDE, Chairman; Mrs Pervenche Berès, S&D, Rapporteur; Mr Othmar Karas, EPP, Coordinator; Mrs Regina Bastos, EPP, Vice-Coordinator; Mr Frank Engel, EPP; Mrs Magdalena Alvarez, S&D; Mr Olle Schmidt, ALDE, Coordinator) took place from 24 to 29 May 2010. It visited Beijing and Shanghai to discuss global imbalances, the development efforts of China to increase domestic consumption and the country‘s possible contribution to overcoming the current difficulties.

MEPs talks in Beijing and Shanghai

The European Parliament‘s Special committee on the financial, economic and social crisis delegation met high-ranking officials in Beijing and Shanghai as part of a drive to explore the global causes of the financial crisis, including macro-economic imbalances and to identify resolutions to the global crisis and the sovereign debt problems in Europe. The MEPs have stressed that it is essential for all EU Member States to do their homework and implement common commitments to overcome the current crisis and to pursue solutions in view of the current developments.

Meetings with financial and political leaders and civil society

In Beijing the delegation met, in particular, officials from China‘s central bank, the People‘s Bank of China; Mr Liu Mingkang, Chairman of the China Banking Regulatory Commission; Mr Yin Zhongqing, Vice Chairman of the National People‘s Congress Economic and Financial Committee; Mr Zhu Guangyao, Vice-Minister of the Ministry of Finance; Mr Klaus Rohland, the country director of the World Bank in China; as well as Mr Jin Liqun, Chairman of the Board of Supervisors of the Chinese sovereign wealth fund, China Investment Corporation. It has also met business representatives, the EU Chamber of Commerce, Transparency International and think tanks.

In Shanghai the delegation met representatives of the regional parliament, business and the China Europe International Business School. In addition, it organised at the EXPO in Shanghai together with the EP Delegation for relations with the People‘s Republic of China a joint workshop on EU-China partnership in the aftermath of the global crisis. Mr Jerzy Buzek, President of the European Parliament gave a keynote address. Among the participants in the workshop were Chinese Members of the National Congress, business representatives and academics.

At the end of the visit the Chairman of the committee Mr Wolf Klinz (ALDE, DE) said, “We have been impressed by China‘s commitment to work closely with the European Union and to actively contribute to overcome the current crisis. Officials, businessmen and academics have all expressed their sincere preference for a strong and stable Euro and a swift and definite resolution to the sovereign debt crisis in the Europe. We are confident that the key to success is not only a deepening of our mutual relationship in Europe, but a continuous opening of all sectors of the Chinese market.“

For further information and details, please contact the Secretariat of the Special Committee on the Financial, Economic and Social Crisis under: ip-cris [at] europarl [dot] europa [dot] eu.