China and Europe: time for a second 'honeymoon'?

BEIJING - Chinese Premier Li Keqiang is touring parts of Europe this week, cementing ever-closer economic ties that have made the European Union China's biggest trading partner for ten years in a row.

This is Li's third visit to Europe since he took office in 2013.

In Britain, where the Chinese Premier met Queen Elizabeth II and Prime Minister David Cameron, the two countries on Tuesday signed deals worth more than 14 billion pounds, with energy and finance dominating the trade agenda.

Two days later in Athens, Li oversaw the signing of trade and investment accords worth $4.6 billion with Greece, while expressing support for the bailed-out country's economic revival efforts.

The open show of support, both in words and in deals, has prompted a question to which many are curious about the answer: is a second "honeymoon" around the corner?

China and Europe enjoyed years of cozy cooperation at the beginning of the millennium. But relations cooled slightly in the mid-2000s.

An upturn in trade ties and frequent high-level official exchanges have kindled hope of a second "honeymoon".

Annual trade volume between China and the EU has exceeded $550 billion and there are over 5 million visits between the two sides each year.

The EU's direct investment in China jumped to $6.5 billion in 2013, a 21.9 percent increase year on year. China's direct investment in the EU, meanwhile, spiked 6.2 percent to $3.6 billion.

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