(Yicai) Dec. 4 -- France will remain open to trade and investment despite deteriorating global conditions as it seeks to attract more Chinese companies to the country, according to Nicolas Forissier, France’s minister delegate for foreign trade and economic attractiveness.

Chinese firms launched 27 new investment projects in France last year, with particularly strong growth in green mobility. France aims to sustain this momentum and leverage Chinese investments to advance its green reindustrialization strategy and help rebalance Sino-French trade, Forissier said during a recent visit to China.

Forissier cited several examples, including Xtc New Energy Materials of Fujian, which last year agreed to develop lithium battery cathode material precursors in partnership with France’s Orano. At this year’s Choose France summit, Windrose Technology of Anhui announced plans to build Europe’s largest electric truck plant in France, he added.

But China’s investment stock in France remains only one-third the size of French investment in China, Forissier noted. About 2,800 French companies already operate in the Chinese market, and many more are eager to export to China or expand their presence there, he said.

China is France’s fourth-largest trading partner, and bilateral trade has continued to grow.

To enhance its appeal to global investors, France launched the France 2030 investment plan in 2021, committing EUR54 billion over five years to support reindustrialization through green transformation and technological innovation.

Since its launch, France 2030 has disbursed EUR40 billion, backing 7,500 projects and creating 155,000 direct jobs, with many foreign investors among the beneficiaries, Forissier said. France has also reduced corporate and capital tax rates to foster a more welcoming investment environment, he added.

Efforts to narrow the trade deficit with China include projects such as the “From French Farms to Chinese Dining Tables” initiative launched by the two countries’ leaders in 2023. Forissier expressed hope that the program will continue to expand.

Artificial intelligence is another key area of bilateral cooperation. In February, Chinese Vice Premier Zhang Guoqing traveled to Paris for the AI Action Summit. In July, Anne Bouverot, France’s special envoy for AI, visited Shanghai to attend the World Artificial Intelligence Conference.

These exchanges highlight the strong shared interest in AI technology, Forissier said. France advocates open and inclusive AI development to ensure that AI applications support sustainable development globally. France intends to advance this vision together with countries, companies, and civil society organizations that share this goal.

Editors: Dou Shicong, Emmi Laine