Chinese top legislator Wu Bangguo and Austrian Vice Chancellor and Federal Minister of Finance Josef Proll met in Vienna Saturday, with both sides agreeing to expand bilateral trade and economic cooperation in the fight against the ongoing world financial crisis.
Wu, chairman of the Standing Committee of China's National People's Congress (NPC), said China's development has provided even greater room for expanding economic and technological cooperation with Austria.
Proll said the financial crisis had incurred a serious impact on Austria's economy. In the process of addressing the consequences of the financial crisis, the Austrian government places great importance on strengthening economic and technological relations with China.
China witnessed an economic growth of 6.1 percent in the first quarter of this year, while Austria's economy contracted 2.8 percent in the same period.
Noting that the two economies are highly complementary, Wu said China has a huge market and Austria has advanced technologies in many fields. He said China is ready to expand cooperation with Austria in such areas as energy efficiency, environment protection, water conservancy, eco-agriculture, auto parts and clean energy, so as to foster new growth spots of both economies.
Proll said Austria will actively transfer advanced technology to China in a bid to expand cooperative areas and carry out large- scale projects. He said that the two countries should turn their economic complementarity into real fruits of cooperation, so as to help the Austrian economy to rally and bring benefits to the people of both countries.
Wu said both sides should encourage their companies to seek new cooperative opportunities brought about by the governments' economic stimulus measures.
Wu noted that the Chinese government's policy package to counter the impact of the financial crisis has achieved initial results. China is now focusing on restructuring the economy and changing the pattern of growth in a bid to attain sustainable growth.
He said the governments of both countries should create favorable conditions for and facilitate the flow of travelers and cooperation between companies of the two countries.
Proll said that he agreed with Wu.
