In response to rumors of a proposed trade dispute mechanism between China and Europe, Shen Danyang, a spokesperson for the Chinese Ministry of Commerce, confirmed in Beijing on the 19th that China and the EU have indeed conducted preliminary communication on the intention to establish an early warning mechanism.
Shen Danyang disclosed the above news at the regular press conference of the Ministry of Commerce held on the same day. According to media reports, the EU ambassador to China said at the 16th China-EU leaders briefing that the EU and China are considering establishing an early warning mechanism to identify issues that may trigger future trade disputes and prevent the possibility of trade wars.
"The intention of China and the EU to establish an early warning mechanism is indeed a preliminary communication." Shen Danyang said. He also added that before the establishment of the mechanism, China is willing to strengthen the coordination of positions and cooperation with the EU through the use of existing mechanisms on bilateral major economic and trade friction issues, and timely exchange and communication at the early stage of the discovery of problems, thereby preventing and reducing Even eliminate friction and create favorable conditions for the healthy development of China-EU economic and trade cooperation.
In recent years, trade frictions between China and Europe have been frequent. Among them, the "double anti-" (anti-dumping and countervailing) case of photovoltaics started last year, which dragged bilateral economic and trade relations to the edge of the "trade war." Fortunately, with the active mediation of the Chinese leaders and the efforts of the two sides, the photovoltaic case ended in a peaceful settlement.
"The successful resolution of the photovoltaic dispute shows that both China and the EU have the ability and wisdom to control trade frictions and maintain the overall situation of cooperation." Shen Danyang believes that China-EU trade is expanding and some frictions are inevitable, but both sides understand that globalization is deepening. Today, China-EU economic relations are getting closer and closer, and no one can do without it. Resolving disputes through consultation and dialogue is the right choice for meeting the historical trend.
According to data released on the same day, from January to October, the trade volume between China and the EU was US$456.1 billion, a slight increase of 0.5% year-on-year, which reversed the trend of continuous decline in trade volume since last year. In terms of investment, from January to October this year, EU investment in China increased by 23% year-on-year, and China’s investment in the EU doubled year-on-year. "Chinese enterprises and European companies with advanced technology and well-known brands have become the highlight of China-EU economic and trade cooperation." Shen Danyang added.
On the 21st of this month, the 16th China-EU Summit will be held in Beijing. Shen Danyang said that according to the consensus reached between China and the EU on the China-EU high-level economic and trade dialogue on October 24, China and the EU will strive to formally announce the initiation of the China-EU bilateral investment agreement negotiations during this China-EU summit.
"China and the EU are mutually exclusive strategic partnerships and economic and trade exchanges are increasingly close. It is in the common interest of both parties to reach a high-level EU-China investment agreement, which is conducive to promoting the growth of two-way investment and to the development of two-way balanced Sino-European economic and trade relations." It is said that China is ready for this major negotiation.
Shen Danyang disclosed the above news at the regular press conference of the Ministry of Commerce held on the same day. According to media reports, the EU ambassador to China said at the 16th China-EU leaders briefing that the EU and China are considering establishing an early warning mechanism to identify issues that may trigger future trade disputes and prevent the possibility of trade wars.
"The intention of China and the EU to establish an early warning mechanism is indeed a preliminary communication." Shen Danyang said. He also added that before the establishment of the mechanism, China is willing to strengthen the coordination of positions and cooperation with the EU through the use of existing mechanisms on bilateral major economic and trade friction issues, and timely exchange and communication at the early stage of the discovery of problems, thereby preventing and reducing Even eliminate friction and create favorable conditions for the healthy development of China-EU economic and trade cooperation.
In recent years, trade frictions between China and Europe have been frequent. Among them, the "double anti-" (anti-dumping and countervailing) case of photovoltaics started last year, which dragged bilateral economic and trade relations to the edge of the "trade war." Fortunately, with the active mediation of the Chinese leaders and the efforts of the two sides, the photovoltaic case ended in a peaceful settlement.
"The successful resolution of the photovoltaic dispute shows that both China and the EU have the ability and wisdom to control trade frictions and maintain the overall situation of cooperation." Shen Danyang believes that China-EU trade is expanding and some frictions are inevitable, but both sides understand that globalization is deepening. Today, China-EU economic relations are getting closer and closer, and no one can do without it. Resolving disputes through consultation and dialogue is the right choice for meeting the historical trend.
According to data released on the same day, from January to October, the trade volume between China and the EU was US$456.1 billion, a slight increase of 0.5% year-on-year, which reversed the trend of continuous decline in trade volume since last year. In terms of investment, from January to October this year, EU investment in China increased by 23% year-on-year, and China’s investment in the EU doubled year-on-year. "Chinese enterprises and European companies with advanced technology and well-known brands have become the highlight of China-EU economic and trade cooperation." Shen Danyang added.
On the 21st of this month, the 16th China-EU Summit will be held in Beijing. Shen Danyang said that according to the consensus reached between China and the EU on the China-EU high-level economic and trade dialogue on October 24, China and the EU will strive to formally announce the initiation of the China-EU bilateral investment agreement negotiations during this China-EU summit.
"China and the EU are mutually exclusive strategic partnerships and economic and trade exchanges are increasingly close. It is in the common interest of both parties to reach a high-level EU-China investment agreement, which is conducive to promoting the growth of two-way investment and to the development of two-way balanced Sino-European economic and trade relations." It is said that China is ready for this major negotiation.
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