China is ready to work with the European Union to bring more stability and positive dynamics to economic and trade relations. This was stated by Chinese Vice Premier He Lifen to Emmanuel Bonne, diplomatic adviser to French President Emmanuel Macron, during a meeting in Beijing on Tuesday.
“The relationship has great potential for further growth“, He Lifen said. He said China is ready to work with France to deepen cooperation in all economic areas and implement the agreements reached by Presidents Xi Jinping and Emmanuel Macron.
The hybrid car dispute
The meeting took place days after China and the EU reached an agreement on trade in hybrid cars. According to the European side, the agreement could reduce Chinese hybrid car exports to the European market by more than half.
Beijing presents the agreement in a different way. China's Ministry of Commerce said it would allow exports to continue to grow at current levels and guarantee Chinese manufacturers a quota comparable to that of companies from other countries.
New talks in 2027
On October 8 and 9, China and the EU held the second meeting of the Trade and Investment Consultation Mechanism in Beijing. The two sides agreed on 16 points related to the trade balance, export controls, intellectual property and World Trade Organization reform.
Among the agreements is the continuation of talks on a possible reduction of tariffs on certain goods, as well as a technical dialogue on EU rules on foreign subsidies. The next meeting of the mechanism is planned for March 2027, and a video conference at ministerial level is to be held in January.