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China
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China
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II. Trade Relations and Economic-Technological
Cooperation
The economies of China and Norway are complementary to each
other to a certain extent. Since the establishment of diplomatic
relations between the two countries 45 years ago, the bilateral
economic cooperation has developed from simple exchanges of
commodities to multi-fields cooperation in economy, trade,
industry and technology. The bilateral trade volume has increased
constantly since mid-1980s. According to statistics of the
China General Administration for Customs, the volume of the
bilateral trade between China and Norway in 2003 was US$1.76
billion, an increase of 21.7% compared with the previous year.
Of that, China's import value was US$899 million while its
export value was US$865million, respectively down by 6.3%
and u p
by 70.6% from the previous year. China's main exports to Norway
were ships, textiles and garments, mechanical and electrical
products, shoes, suitcases and bags as well as coke, and its
main imports from Norway were crude oil, mechanical and electrical
products, fertilizer, building and mining machines, loading
and unloading equipment as well as iron ore.
In 1980, the two countries signed the Agreement on Economic,
Industrial and Technological Cooperation and set up the Sino-Norwegian
Mixed Committee of Economy and Trade. 15 committee sessions
were held until now. Up to the end of year 2003, the two sides
have signed contracts on 166 projects for technological transfer
and imports of equipment with a total amount of US$ 424 million
of contractual investment. The main fields of investment are
post and telecommunications, electronics, machinery, transportation,
light industry, agriculture and environmental protection.
Up to the end of 2003, China and Norway had established 172
joint ventures, with contracted Norwegian capital amounting
to US$320 million and the capital actually invested totaling
US$230 million. The main jointly-funded enterprises were Haidelu
Suzhou Huasu Plastic Co., Ltd., Baolige Taican Chemical Industrial
Co., Ltd., Guangzhou Zuodun Yuanyang Lacquer Co., Ltd., Shanghai
Naikeming Pharmaceutical Co., Ltd., Ningbo Huagang High-speed
Passenger Ship Co., Ltd., and Luoshan Scana Machine Manufacturing
Co., Ltd.
Norway has provided China with government concessional loans
since 1985. Up to the end of 2003, Norway had provided government
loans to China with the contracted amount reaching US$240
million, which was used for financing 64 projects mainly in
communications, telecommunications, urban construction and
environmental protection.
In January 2000, the two countries reached agreement on issues
concerning China's entry into WTO.
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