Xi hosts Macron on a sightseeing visit, but major deals remain scarce
Chinese President Xi Jinping gave French President Emmanuel Macron special treatment on Friday by personally accompanying him to Chengdu. It was a rare gesture that shows how important Paris has become to Beijing in its relationship with the European Union. Even during Donald Trump’s high-profile 2017 visit, when Xi hosted him for a private dinner inside the Forbidden City, Trump’s trip never went beyond Beijing.
Despite the warm atmosphere surrounding Xi and Macron, the French leader’s visit has produced few concrete results so far. Analysts say the trip has mainly boosted China’s diplomatic image at a time when many world leaders are turning to Beijing for economic stability following Trump’s renewed tariffs. For Macron, the visit also offers a chance to show global leadership after a politically difficult summer at home.
Investors are watching closely to see whether Macron’s Chengdu stop — which began with him jogging around Jincheng Lake Park and later touring a historic dam with Xi — will lead to any major business announcements or progress in EU-China trade disputes. Macron brought along top executives from major French companies for his fourth state visit to China. But so far, results remain modest: Thursday’s meetings in Beijing produced just 12 cooperation agreements covering areas such as nuclear energy, population ageing, and panda conservation. No financial commitments were disclosed.
According to Alicia Garcia-Herrero of the Bruegel think tank, France likely expected Xi to offer more because Europe is developing a new economic security agenda. Macron may have assumed that, given France’s strong influence in this area, he could secure meaningful deals — but that hasn’t happened.
Still, Macron did enjoy a public relations boost when students at Sichuan University gave him an enthusiastic welcome before his speech. He urged China to consider its global responsibilities, saying the international system built after World War II was “cracking” and cooperation between powers was under strain. He also pushed back against China’s narrative that Western influence is fading, telling students that claims about Europe being outdated or the West being arrogant are “fabrications.”
Economic Opportunities vs. Political Realities
While China appears eager to maintain good relations with France — partly to strengthen its voice within the EU — Beijing is limited in what it can offer. Xi is unlikely to approve a long-awaited order for 500 Airbus jets because doing so would weaken China’s bargaining position with the United States, which wants China to buy more Boeing aircraft.
Similarly, China is not expected to ease restrictions affecting French cognac or pork producers. Any concessions there could weaken Beijing’s stance in its heated dispute with Brussels over tariffs on Chinese electric vehicles.
Nor can Xi give Macron a diplomatic win on Ukraine, as China has recently reaffirmed its support for Russia. Recent visits from other European leaders — including Spain’s King Felipe VI and Germany’s finance minister — have also ended with few tangible outcomes.
Chinese advisers say Beijing believes it currently holds the advantage and expects the EU to eventually soften its stance and accept a minimum price system for Chinese EVs instead of imposing tariffs. One adviser, speaking anonymously, argued that Europe is too dependent on the United States, especially after Trump’s return to office, and now needs more balanced trade with China. He also said the EU should rethink its China policy and avoid linking it so closely to Russia and Ukraine.
China Attempts a Divide-and-Rule Strategy
Xi did not propose any EU-China trade deal during his talks with Macron, even though China has raised the idea with smaller EU nations recently. Discussions on a major investment pact have been frozen since 2021. The EU remains divided on how to handle China — France supported tariffs on Chinese EVs, while Germany, the EU’s economic powerhouse, opposed them.
A European Commission official noted that China continues to bring up the idea of a trade agreement when speaking with individual EU countries, a move that could deepen divisions within the bloc. “We have no plans for any trade agreement with China,” the official said.
Source: reuters