China, Monaco share long-term trade relationship

Monaco, located on the northern shore of the Mediterranean Sea, is known as "the country of pockets." It only covers a little more than two square kilometers with a population of less than 40,000.

Although it is the second smallest country in the world, Monaco is a world-famous tourist destination, and also the headquarters of more than 10 international organizations, including the International Hydrographic Organization and the International Federation of Individual Sports Federations. It also boasts a thriving financial industry.

Head of State of the Principality of Monaco Albert II is an old friend of the Chinese people, who has paid 10 visits to China.

The volume of trade between China and Monaco surged by 794.8 percent year-on-year to 127 million U.S. dollars between January and September 2018.

-- Monaco had invested 3.59 million U.S. dollars in 24 projects in China as of last August.

-- China has vowed to tighten cooperation with Monaco in environmental protection, climate change, clean energy, low carbonand wild animal protection, under the Belt and Road Initiative.

Over the last few years, China has imported from Monaco goods including pharmaceuticals, integrated circuits and microelectronic components, valves, diodes and similar semiconductor devices, liquid pumps and liquid hoists, transformer rectifier inductors and parts, and plastic products, among others.

China has exported to Monaco such goods as clothing, footwear, textile yarns and fabrics, video recorders, televisions, plastic products, lamps, photocopiers, stainless steel and tableware.

As of August 2018, Monaco had invested in 24 projects in China, with theactual utilized capital of 3.59 million U.S. dollars.

(CGTN)