Chinese Foreign Minister Wang Yi says EU investment pact is a top priority
- China’s top diplomat puts the emphasis on cooperation rather than competition in speech to Brussels think tank
- He urges European states to create level playing field for Chinese businesses and make up their own minds about 5G communications
China is prioritising diplomatic ties with Europe and should be seen as a partner, not a competitor, Foreign Minister Wang Yi said, as Beijing seeks to broaden its foreign policy focus beyond the trade war with Washington.
Wang also said negotiations on a China-EU investment agreement – which are expected to be concluded by the end of next year – “top our economic agenda”.
“Even though this is not the mainstream theory, we should be alert to it and not allow it to spread further,” he said. “Anyone who is objective and rational can see that cooperation overrides competition between China and Europe, and consensus overrides differences.”
Wang’s comments on his trip to Europe, which included an Asia-Europe foreign ministers’ meeting in Spain on Monday, came after China and the US reached a phase one trade deal.
Under the deal, the US will postpone tariffs on US$156 billion of Chinese exports that were due to take effect on Sunday and will cut by half the rate imposed on US$120 billion worth of Chinese goods, to 7.5 per cent. But 25 per cent duties on US$250 billion worth of Chinese goods will remain in place. China, for its part, promised to buy more US products.
Human rights in Hong Kong, Xinjiang raised in China-EU meeting
In Europe, there have been concerns that the bloc was less of a priority for Beijing amid its protracted trade dispute with Washington, but also wariness over its expanding influence – particularly Chinese investment in Central and Eastern European nations.
Faced with Beijing’s rising economic power and political influence, the European Union has adjusted its China policy and views the country as both a “systemic rival” and a “strategic partner”.
But Wang dismissed such concerns, seeking to highlight China’s respect for European unity. He said Chinese investment in Central and Eastern Europe could help promote integration among EU nations, and create more balanced development.
“With differences in historical and cultural backgrounds, as well as social systems and models, it is common to have divergent views,” he said.
China and the EU will hold their annual bilateral summit in Beijing in April, when Chinese Premier Li Keqiang will meet the new EU leadership. President Xi Jinping will travel to Leipzig, Germany in September for a summit with the 27 leaders of the bloc’s member states.
Wang said negotiations on the investment agreement between China and the EU were a top priority.
“We also hope that the EU will keep to market economy principles and create a level playing field for Chinese enterprises, not least by upholding fairness and justice and making well-informed and independent judgments on 5G issues,” he said, referring to the US campaign against Chinese technology giant Huawei.
