China to pursue more trade with France, including beef
China told France on Monday it would buy more of its farm produce, hinted at future Airbus purchases and pledged to work on market access, shoring up its trade ties with Europe amid the increasing danger of a tariff war with the United States.
China has been loosening such longstanding restrictions on beef imports to feed the appetite of the country’s growing middle class for steaks and ribs, and has in the past couple of years cleared the United States and Ireland, like France a member of the European Union, to export beef.
China is now the world’s second-largest beef importer, taking in almost 700,000 tonnes of the red meat in 2017, worth about $3.3 billion, with volumes up 20 percent from the year before, according to Chinese customs.
Monday’s technical agreement on hygiene and inspection requirements, signed during a visit by French Prime Minister Edouard Philippe, means France will be able to export to China once meat companies that have applied for access receive their permits.
China’s proposed retaliatory tariffs against a range of U.S. goods including beef could also help France by stalling U.S. shipments after they resumed last year.
“Good news for the French beef sector for which the Chinese market is opening,” French President Emmanuel Macron said in a Twitter post.
The agreement came after Macron had pledged during a visit to China in January to obtain market access within six months, and offered a trade success amid inconclusive discussions to sell Airbus aircraft.
China’s premier Li Keqiang, speaking to reporters after the deal was signed at Beijing’s Great Hall of the People, said it would “let Chinese consumers very quickly consume more high quality French beef and other agricultural goods.”