Macron, who took power in 2017, worked with Merkel previously to negotiate the Comprehensive Agreement on Investment, an accord between China and the EU that was poised to take economic ties to new heights. Yet it was shelved in 2021 after the two sides clashed over sanctions imposed due to alleged human-rights abuses, and now appears all but dead.

“Now that Merkel has gone, we only have Macron who knows all the background,” said Henry Wang Huiyao, founder of the Centre for China and Globalisation. “He’s in a better position to promote EU-China relations and France-China relations.”

China’s treatment of Macron contrasts with that of von der Leyen, who is also visiting China. While the Chinese Foreign Ministry said Macron was coming “at the invitation” of Xi on a “state visit”, it added that von der Leyen was merely “visiting” as “agreed between China and the EU”.

In a speech last week, she called on EU members to scale back the risks in dealing with an increasingly assertive China, rather than decouple completely, in response to a new era of state security and control. That generated a terse reply from China’s ambassador to the EU, who told state broadcaster CCTV that von der Leyen’s speechwriter “does not really understand China or deliberately distorted China’s positions”.

Macron, meanwhile, has warned Europe against picking sides between the US and China, touting the benefits of a middle path during a November speech while attending the Asia-Pacific Economic Cooperation CEO summit in Bangkok “We need a single global order,” he said to extended applause.

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The French president will be accompanied by a delegation of executives from large and small French companies, including from electricity utility Electricite de France (EDF), train-maker Alstom, waste and water management company Veolia Environnement, and Airbus. The European plane-maker is working to secure a multi billion-dollar sale of wide-body jets to China in a deal that could come together as soon as this week, people familiar with the matter told Bloomberg News.

While France was the third-largest trading partner with China in the European Union last year after Germany and the Netherlands, two-way trade between the countries fell 4.4 per cent last year to $US81 billion and key investors have seen rising competition. Supermarket chain operator Carrefour in 2019 sold 80 per cent of its local operations to Chinese rival Suning.com, while Stellantis, the producer of Peugeot and Citroën cars, is considering stopping manufacturing autos in China after shuttering its only Jeep factory in the nation.

It’s unclear, however, whether securing business deals for French firms would help Macron, who has faced violent protests at home after pushing through a reform of the country’s pension system by bypassing the traditional legislative process.

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Macron could also face challenges if he shows any support for Xi’s blueprint for peace in Ukraine, which has been dismissed by the US. Macron has already been subject to criticism in European capitals for his unsuccessful efforts to secure any concessions from Moscow despite multiple calls to Putin before and after his invasion.

Still, China’s ceasefire proposal – combined with some economic carrots – could open divisions within NATO, according to Chu-Ping Lo, associate professor at National Taiwan University.

“Europe may feel that the US, which benefits the most, is seeking to continue to benefit from the Russia-Ukraine war,” he said. “This could be a turning point in the split of NATO.”

Bloomberg