China’s ambassador to Belgium has conceded that his country’s economy has faced “challenges”.

But Fei Shengchao also stressed it was “still doing great”, was currently the second largest economy in the world and was one of the “major engines” of the global economy.

Speaking at an event in Brussels on Thursday (26 February), the diplomat said he was confident his country’s bilateral relationship with Belgium could “withstand any future chaos.”

He was a guest speaker at a celebration of the Chinese New Year, organised by the Belgium-Chinese Chamber of Commerce.

He noted that relations between China and Belgium were now in their 55th year and that the two sides had withstood “instability” and “chaos” over the past five decades.

He said the coming year would see more “high-level” exchanges between the two sides.

It is the Chinese Year of the Horse and, lending an appropriate metaphor, he said that, like a horse, the relationship between Belgium and China was “strong” and noted for its “stamina”.

Another key speaker was Jan Jambon, Belgium’s deputy PM, who said that, since 2019, he had “got to know China up close”.

Since then, he said, relations between the two had expanded, and trade between the two economies had risen, “totalling a dazzling €40 bn in 2024″.

Leading Chinese companies, like Hainan Airlines and Bank of China, have invested in Belgium, and 300 Belgian investors and companies have done the same in China, he noted.

He praised the work of the Chamber for “bringing like-minded people together”, adding that “in times of economic turbulence, the existence of fair, strong and stable trade relations” is “essential”.

Jambon told the packed audience, which included leading figures from Belgium’s business community, that the successful partnership with China was “rooted in mutual respect”.

Drawing on the horse analogy, he said the creature symbolises hard work and authenticity, “exactly the same meaning it holds” in Chinese culture.

Bernard Dewit, chair of the BCECC, also said that the world needed a “bit of horsepower”, adding that over the past 5 decades or so, China had proven to be one of Belgium’s “most important” trading partners.

He said the two had been on a “remarkable journey” over that time and, despite “ups and downs, the relations between the two were “still very strong”.

China was one of Belgium’s most important economic partners outside the EU, and this would continue, added Dewit, who is celebrating his 30th year as president.