In China-EU trade ‘rebalancing’, dialogue marks critical step as European firms face ‘more political, less predictable’ business environment
- European Commission trade chief Valdis Dombrovskis wrapped up his four-day China trip on Tuesday with hopes for ‘mutually advantageous results’ following talks
- Agreeing to exchange information and work together, according to one Chinese analyst, shows how both sides recognise that ‘there needs to be a limit to de-risking’
If the latest economic and trade talks between China and the European Union are any indication, their relationship still revolves around managing conflicts rather than realising substantial results, according to Chinese academics.
As EU trade chief Valdis Dombrovskis wrapped up his four-day trip to China on Tuesday, he described his engagement with Chinese counterparts as “candid and useful”, with the two sides having agreed to create more platforms for communication on a range of economic topics.
“The EU is keen to translate this engagement into mutually advantageous results, without delay,” Dombrovskis said at a press briefing in Beijing on Tuesday.
He said “rebalancing” the trade relationship with China was necessary, and he called for “greater transparency, predictability and reciprocity” in China’s business operating environment, which he said has become “more political and less predictable” – messages that he repeated throughout his trip, which included stops in Shanghai, Suzhou and Beijing.
Dombrovskis’ remarks highlighted much of the sentiment from the 10th China-European Union High-Level Economic and Trade Dialogue on Monday, when he held talks with He Lifeng, the vice-premier overseeing monetary issues and foreign investment.