China and EU leaders agree on need of 'balanced' trade ties

China and EU leaders agree on need of
# 07 December 2023 20:00 (UTC +04:00)

China and the European Union agreed their trade relationship should be more balanced at their first in-person summit for four years on Thursday, but gave no sign of resolving differences on a range of issues, APA reports citing Reuters.

Pressing Beijing over the EU's big trade deficit with China, EU leaders said Europe would not tolerate "unfair competition" from China, and Beijing warned the EU that it expected prudence from Brussels when introducing "restrictive" trade policies.

China and the EU have a shared interest in a stable and constructive relationship based on respect for the international rule-based order, European Council President Charles Michel told a press conference after the EU delegation met Chinese President Xi Jinping and Premier Li Qiang.

"We need to make our trade and economic relationship more reciprocal and balanced," Michel said, adding that the bloc expects China to take more concrete actions to increase market access for foreign companies.

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