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| Embassies Embassy of the Republic of France in Beijing Ambassador: H.E.Mr. Herve Ladsous Address: No.3, Dong San Jie, San Li Tun, Chaoyang District, Beijing Postal Code: 100600 Tel: (+86)10 8532 8080 Fax: (+86)10 8652 4841 E-mail: scac@ambafrance-cn.org Office Hours: 08:30-11:45, Mon.-Fri. (Office of French Affaires) Website: http://www.ambafrance-cn.org/ Embassy of the People's Republic of China in the Republic of France Ambassador: Mr. Kong Quan Address: 11, avenue George V - 75008 Paris Tel: +33-1-49521950 Fax: +33-1-47205946, 47202422, 53758914 Office Hours: 09:00-12:00, 14:30-18:00, Monday-Friday (except holidays) Email: chinaemb_fr@mfa.gov.cn Website: http://fr.china-embassy.org/fra/ (French) |
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| Economy France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. Widespread opposition to labor reform has in recent years hampered the government's ability to revitalize the economy. During 2007-08, the government implemented several important labor reforms, including a de facto extension of the 35-hour workweek by allowing employees to work longer overtime hours. During 2009, the government is expected to delay or even renounce other reform efforts due to the on-going financial crisis. GDP growth dropped to 0.7% in 2008; the French government plans to increase public investment and continue injecting capital into the banking sector to alleviate the negative effects of the crisis during 2009. As a result of lower fiscal revenues and increased expenditures the general government deficit is expected to exceed the euro-zone ceiling 3% of GDP. France's tax burden remains one of the highest in Europe - at nearly 50% of GDP in 2005. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. |
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