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Anxieties over a new spree of investments intensified recently after the wide circulation of a photo of Mayor Wang Zhongbing kissing an approval document. The mayor of Zhanjiang was jubilant as a steel mill in the southern city had got the green light.

Many Chinese people have waited for this moment and speculation he may win intensified over the past few days.

Li Jian, a foreign trade expert at the Ministry of Commerce's research institute, said China's own efforts to help trade firms reduce transaction costs and improve efficiency also contributed to the recovery.

He called on the two countries to strengthen exchanges and expand cooperation to seek an eco-friendly development path in line with economic growth and social harmony.

"Chinese enterprises are interested in participating in the construction of transportation, energy and telecommunication projects in Europe. We also welcome European countries to participate in China's economic construction," said Wen.