June 25, 2025

Your Excellency Yiannis Panayiotou, Minister of Labour and Social Insurance of Cyprus,

Distinguished Guests,

CECC President Wang Wenxu,

CECC Members，

Kalispera! On behalf of the Chinese Embassy in Cyprus, let me begin by extending warm congratulations on the establishment of CECC! I also warmly welcome all Cypriot friends who are here with us tonight.

This event presents a wonderful opportunity to reflect on the over half century of enduring friendship between China and Cyprus, to explore the vast potential for win-win economic and trade cooperation, and to put forward hopes and suggestions for the future work of CECC. In this connection, I would like to make three points.

First, China and Cyprus enjoy long-standing friendship and close cooperation.

China and Cyprus formally established diplomatic relations on December 14, 1971. On May 18, 1974, Chairman Mao Zedong met with President Makarios in Beijing, laying a solid foundation for our bilateral friendship.

In 2019, under the witness of our presidents, the two sides signed an MOU on Belt and Road cooperation. Then, on November 30, 2021, President Xi Jinping had a phone call with then-President Anastasiades, during which they agreed to elevate our bilateral relationship to a strategic partnership—further strengthening our cooperation.

Thanks to the guidance of our leaders, the China-Cyprus exchanges and cooperation have continued to expand and deepen. Specifically, bilateral trade reached nearly one billion euros in 2024, making China the second largest trading partner and the second largest source of imports for Cyprus. Meanwhile, high-quality Cypriot products such as wine, halloumi, and juice have made their way to Chinese households through platforms such as the China International Import Expo and JD.com, an online e-commerce platform.

These achievements would not have been possible without the hard work and dedication of both Chinese and Cypriot entrepreneurs. My sincere appreciation goes to all of you.

Second, there is big opportunity and huge potential for China-Cyprus and China-EU cooperation.

In today’s complex global landscape, marked by geopolitical tensions and rising unilateralism and protectionism, the risk of a global economic slowdown has significantly increased. According to the IMF’s World Economic Outlook published in April, rising global tariffs and uncertainty have slowed global growth. Against this backdrop, China, Cyprus, and the EU face shared challenges. We need to jointly uphold the WTO system and free trade rules, foster mutual openness and win-win cooperation, contribute to the growth of China-Cyprus and China-EU relations, and inject more stability and positive energy to the global economy.

China is a major engine of global growth, contributing around 30% to the world economy over the years. China is committed to promoting scientific and technological innovation, leveraging domestic demand, and advancing high-quality development and high-standard opening-up. China’s strengths in innovation, a vast market, a well-established industrial system, and a sound investment environment have enabled its economy to maintain strong resilience and dynamic vitality.

Amid global downward trends, China’s trade in goods grew by 2.5% in the first five months of this year. Our GDP growth in the second quarter is expected to remain above 5%. According to the forecast of some international institutions, our annual GDP growth would be around 4.5% for the whole year.

Importantly, this year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU. This relationship has remained stable and continued to improve. The Chinese and European economies are highly complementary, with a strong foundation and tremendous potential for cooperation in areas such as digital technology, green development, innovation—including artificial intelligence—and addressing climate change. As long as both sides uphold the spirit of openness and mutual benefit, the future of China-EU relations will be very promising.

Next year will mark the 55th anniversary of diplomatic relations between China and Cyprus. Our strategic partnership is operating at a high level. Economic and trade cooperation between the two countries is flourishing, particularly in digital technology, green development, innovation, shipping, and tourism.

China’s 5G technology has helped Cyprus become the first EU country to achieve full 5G coverage. Chinese electric vehicles are offering more choices for Cypriot consumers. Chinese companies have undertaken the construction of new “natural gas + fuel oil” power plants, as well as solar power and energy storage projects, all of which are helping Cyprus advance its green energy transformation. The complementary strengths of our shipping industries also point to broad prospects for future cooperation.

At the same time, we are committed to promoting two-way exchanges. Through platforms such as the China International Import Expo and the China International Fair for Investment and Trade, we welcome more Cypriot products into the Chinese market. We also warmly invite friends from all sectors of Cyprus to visit China for investment, business, tourism, and study. Likewise, we will continue to encourage more Chinese people to understand and explore Cyprus, a beautiful island, and encourage more Chinese enterprises to contribute to the development and prosperity of both Cyprus and Europe.

Third, CECC bears a glorious mission and significant responsibility.

Over the past 50 plus years of diplomatic ties between China and Cyprus, the remarkable development of our economic and trade cooperation has been made possible by the strong support of both governments and the joint efforts of people from all walks of life. The CCCI, along with related business associations, have played an indispensable role as a bridge and a link. We hope that the establishment of CECC will strengthen such connection and promote the integrated development of the Cypriot business community and the local Chinese community.

CECC is expected to become a strong booster of China-Cyprus friendship and cooperation. Exchanges and cooperation between Chinese and Cypriot entrepreneurs are vital. CECC needs to become a trusted friend of entrepreneurs from both countries and a bridge for friendly cooperation, helping to further deepen people-to-people ties.

CECC is expected to demonstrate its vitality in accordance with its charter. It is important to serve the members in a spirit of mutual support, unity and collaboration, accommodate their suggestions and proposals, and work with local Chinese organizations to host more high-quality events. At the same time, CECC is expected to operate in strict accordance with its charter, comply with the laws of both China and Cyprus, and actively fulfill its social responsibilities.

CECC is also expected to strengthen its cooperation with the Cypriot business community, including CCCI and CCBA, so as to foster synergy to advance the China-Cyprus economic and trade cooperation.

In closing, I wish all of you good health and every business success! Thank you!