"However, in a broader sense, trade balance is achieved by promoting both good trade and investment exchange," Gao said.

The Chinese government will encourage more companies to invest in the processing and production sectors in CEE countries, which could help promote their exports to China and other countries, Gao said.

Cooperation between China and CEE countries will also highlight infrastructure projects such as high-speed railway, nuclear power and ports, according to Gao.

Sunday's event follows a meeting last November between Chinese Premier Li Keqiang and leaders of CEE countries in the Romanian capital of Bucharest, which saw the signing of a cooperation guideline to boost trade and investment exchanges between China and CEE countries.

Trade promotion organizations from China and CEE countries agreed on Sunday to meet in Ningbo every three years and establish a regular mechanism to strengthen economic ties.

"China is getting richer and richer, and we see possibilities for entering the upper-class market with our quality goods and moderate prices," said Mantas Nocius, managing director of Enterprise Lithuania, a trade promotion organization owned by the Lithuanian government.

"We know that we have to try hard, because so far most successful European products in the Chinese market are luxury products, and we're entering in a different market segment.

"I went to local supermarkets, and they seem to be even better than most European markets," he said.

"We're active in the European and Russian markets, but we need to know how to deal with cultural differences in such a huge market like China."

BOC aims for yuan clearing dominance in Europe	China-Europe railway relaunches