China and France Sign $8.5 Billion “Sustainable Development” Agreements

To commemorate the tenth anniversary of the historic agreement between China and France to build the ecological city of Wuhan in Hubei Province, and in conjunction with a possible trip to France by Chinese President Xi Jinping scheduled for May, the two countries have signed agreements worth $8.5 billion that will be used to finance 58 joint projects in the urban construction, green economy, and ecosystem protection sectors. The agreements were signed on the sidelines of the 7th China-France Forum, dedicated to the problems of sustainable development of the world’s second largest economy.

The project of Wuhan as the environment-friendly champion city covers an area of 39 square kilometers and is built according to the latest standards of sustainable urban construction. Many famous Chinese and French architects participated in the implementation of the project.

President Xi Jinping’s visit to France has not yet been confirmed by official Chinese sources, which, however, have repeatedly mentioned the importance of the 60th anniversary of the establishment of diplomatic relations between China and France, marked on January 27, 2024. Xi Jinping and French President Emmanuel Macron praised the stability of relations as a very important factor in an uncertain moment in world politics. According to some sources quoted by the European edition of Politico newspaper, Paris intends to give Xi Jinping a “cautious” welcome, given the climate of growing economic and trade competition between China and European Union countries.

For its part, China is apparently trying to convince Europe not to push Russia out of future peace talks on Ukraine that could take place in Switzerland. Beijing has even considered boycotting the talks if Russia does not participate as well.