Home - News - Company News - European parliament delegation of

European parliament delegation of

Date:Mon Mar,2016

On March 19, European parliament delegation visited the headquarters of IZP Group, and Luo Feng (CEO of IZP) met the delegation. Both sides discussed thoroughly the "Silk Road Station" and "Global Settlement Circle" deployed globally by the IZP Group, and reached couples of consensuses.

Both sides agreed that: The establishment of the settlement circle of "Euro-RMB" realizes the direct settlement via local currency in large Sino-European transactions, which may effectively improve the trade facilitation, reduce the payment costs, benefit Chinese and European enterprises, promote Sino-EU trade and investment and further advance the connection between European interconnection strategy and Chinese "the Belt and Road ("OBOR")" strategy. Both sides also discussed the advanced regional settlement circle mode of IBS Group. 

Europe which is a developed economic circle among the west endpoints of Chinese "OBOR" plays a strategic position in the cooperation of "OBOR"; China is the second largest partner of the European Union, and in 2015, the total volume of trade with China amounted to 520.7 billion euros; The fact that currently the settlement of transactions between China and Europe relies on dollar as the intermediate settlement currency results in the inconsistency between trade flow and settlement flow, the trade flow point-to-point occurs between Europe and China, but the fund flow presents a triangular structure of "Euro-Dollar-RMB", and under the current dollar settlement system, once more conversion and double handling charge will be caused in the monetary payment, in general, all of these are adverse to the bilateral trade development. 

 At the conference, Luo Feng stated the influence of single USD clearing system on the export of goods by the European Union to other important trade partners and pointed out that, under current international economic situation, many export countries in Europe have USD shortage which leads to great devaluation of their currencies, while the balance of Euro against USD basically remains. This leads to the actual great appreciation of Euro against the partners' currencies and reduce the capacity of these export countries' currencies for purchasing the goods in Europe, which limits the export trade of the European Union. That is, the interlink of economic influences incurred by UDS will create a whole influence on the external development of European economy. However, the construction of regional settlement circle may, by adopting the multilateral currency system, realize the hedging within the regions and make the currency options of trade more flexible and stable, which may solve this problem effectively. The senators Filip Dewinter, Bruno Gollnisch and other officers showed high agreement with it and considered that the new clearing system and mode will make active effect on the Sino-EU trade, it is expected that the IBS can cooperate with Europe on clearing circle to serve for the development of Sino-EU trade. 

In addition, the European Parliament delegation consisted of 11 delegates, including Filip Dewinter, representative of Belgian Federal Parliament and honorary vice chairman of Flemish Parliament, Anke Van Dermeersch, senator and former vice chairman of Belgian Federal Parliament and Bruno Gollnisch, senator of European Parliament, the senators from Belgium, France, Italy and Hungary came to several Chinese regions for communication and investigation on how to "strengthen the bilateral economic and trade cooperation and co-build a Peaceful Silk Road between China and Europe" with relevant Chinese departments and entities. On March 18, the day before the visit of European Parliament delegation, Meng Jianzhu, present member of the Political Bureau of CPC Central Committee and secretary of the Political and Judiciary Commission of CPC Central Committee, formally met the delegation.