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In 2012, economic cooperation between China and CEE countries delivered encouraging results, with two-way trade surpassing US$50 billion. China sent more than 100 trade and investment promotion missions to the CEE region to promote cooperation with the relevant countries in food, mechanical and electrical products, new energy and other fields. The signing of local currency swap agreements with Hungary and Albania has made financing and trade settlement easier for the companies of the two sides. China has conducted productive exchanges with Romania and other countries in crop plantation and plant breeding, and expanded cooperation with CEE countries in infrastructure development. The Belgrade bridge over the Danube is now a symbol of China-Serbia friendship. The China-CEE countries local leaders' meeting held in Chongqing last July attracted the participation of some 600 enterprises and over 1,000 representatives from various countries, giving new impetus to local exchanges and bringing tangible benefits to the people.
As it stands now, trade between China and CEE countries is only equivalent to 1/10 of China-EU trade, and there remains huge potential to be tapped in expanding practical cooperation between the two sides. China and CEE countries have both weathered the storm of the international financial crisis and the European debt crisis, and our economies are both growing steadily. Being emerging markets, we all face the task of achieving economic transition and innovation. China is implementing the strategy of westward opening, and Chinese companies are entering the global markets at a faster pace. Countries in the CEE region are also paying more attention to opening to the east, and many companies are now turning their eyes to the Asia-Pacific and Chinese markets. Such a shared vision has enabled our economic cooperation to thrive and prosper, and has produced new highlights of growth in cooperation.
CEE countries produce meat, dairy and wine products with high quality. China's urbanization will unleash greater demand for beef, lamb, cheese, wine and other products, and the CEE region will be an important source of import of agricultural products for China. It will not be difficult for us to see an exponential growth in agricultural trade.
Most CEE countries see a need to upgrade and renovate their railway lines, roads, ports and other transportation facilities. China is making rapid progress in the manufacturing of transportation equipment, especially in the field of high-speed railway. We have strong building capacity and high-quality equipment, and the total mileage of high-speed railway under operation in China has by now exceeded 10,000 kilometers. We are fully capable of undertaking transportation infrastructure projects with high quality in CEE countries.
The power generation facilities in CEE countries are in urgent need of upgrading. China has reached world standards in terms of the manufacturing and installation of facilities used in coal-fired and hydro power stations, including pumped storage power stations. We also have mature technologies and world-class manufacturing capabilities in the development of nuclear, wind and solar energies. The facilities we offer are inexpensive and of high quality, which makes China an ideal choice for CEE countries.
CEE countries need financing support for the building of infrastructure. China is ready to explore with CEE countries a flexible way to use the US$10 billion special credit line for China-CEE countries cooperation to support major projects in the CEE region. China is willing to work with CEE countries to promote the opening of financial branch institutions in each other's countries, sign more agreements on local currency swap and settlement, and provide more facilitation for the trade and investment activities of our companies.