China looks to boost EU imports, urges bloc to ease hi-tech export controls

Premier Li Qiang tells European Commission president that China is ready to buy more products from EU

Facing ongoing disputes with Europe, Li says Beijing hopes the bloc will ‘deploy trade remedies’

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Chinese Premier Li Qiang meets European Commission President Ursula von der Leyen in Davos on Tuesday. Li said he hoped the two sides could work together to push for more balanced development in bilateral trade. Photo: Xinhua

Published: 4:29pm, 17 Jan 2024Updated: 5:30pm, 17 Jan 2024

China’s premier told the head of the European Commission that his country wants to import more products from the European Union that align with market demand, while urging the bloc to ease hi-tech export restrictions imposed on China.

Li Qiang made the comments on Tuesday during a meeting in Davos with European Commission President Ursula von der Leyen, as Beijing grapples with mounting trade disputes with Brussels.

It was their second exchange in more than a month after EU leaders travelled to Beijing in December for the China-EU summit where both sides agreed to work towards more stable and constructive ties.

“China stands ready to import more products from the EU that align with market demand, and hopes the EU will relax export restrictions on hi-tech products to China,” Li was quoted as saying in a Chinese foreign ministry readout.

Li also said that he hoped the two sides could work together to push for more balanced development in bilateral trade, while noting that overall, China-EU ties had remained stable despite global changes and turbulence.

Li said deeper relations with the EU remained a diplomatic priority for China, and that Beijing was willing to work with the bloc to implement agreements reached in the December summit.

Over the past year, trade relations between Beijing and Brussels have been strained as both sides swapped accusations of protectionism and unfair competition. The bloc has also sought to rebalance transactions as its trade deficit with China neared €400 billion (US$434.2 billion).