China, EU should expand trade, investment ties to cope with external uncertainties: Chinese premier

BEIJING - Chinese Premier Li Qiang on Thursday called on China and the European Union (EU) to expand trade and investment ties to enhance their economic resilience and vitality, and to increase their ability to negotiate external uncertainties.

Li made the remarks at the EU-China Business Leaders Symposium, which was also attended by President of the European Commission Ursula von der Leyen, at the Great Hall of the People in Beijing.

Speaking to some 60 business leaders, Li said that cooperation is the only correct choice for China and the EU, and that bilateral trade ties have demonstrated strong internal dynamism over the five decades since the establishment of these diplomatic relations.

In the face of rising protectionism and unilateralism, China and the EU can play pivotal roles in economic globalization, and in the stability of international industrial and supply chains, by working together to uphold free trade and multilateralism, and through closer economic and trade cooperation, he said.

He proposed that both sides focus on areas such as trade in services, sci-tech innovation, the green economy and third-party cooperation, and that they foster a good competitive and cooperative relationship.

He encouraged enterprises from both sides to hold an open attitude, align their needs and deepen cooperation in the fields of industrial investment, market expansion, and joint research and development.

Li noted that China will continue expanding its high-level opening-up, shorten its negative list for foreign investment, strengthen intellectual property protection and safeguard fair competition.

"We welcome more European businesses to invest and pursue long-term operations in China," he said, also calling on the EU to provide a fair, equitable and non-discriminatory environment for Chinese enterprises investing in Europe.

Von der Leyen said that China is not only an industrial powerhouse but also a top performer in innovation.

The EU stands ready to use the 50th anniversary of diplomatic relations as an opportunity to deepen its long-term, stable and mutually beneficial partnership with China, she said.

She noted that the EU will enhance cooperation with China in such fields as trade and investment, work with China to promote industrial and supply chain stability, manage differences in a proper manner, and foster a favorable environment for cooperation and business.

The EU has no intention to decouple from China and welcomes Chinese enterprises to invest in Europe, she added.