Get 40% Off
🤑 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

China's Li says EU and China must promote free and fair trade

Published 19/04/2017, 05:34
© Reuters. Chinese Premier Li Keqiang shakes hands with the European Union's foreign policy chief, Federica Mogherini before their meeting at the Zhongnanhai leadership compound in Beijing
AND
-

BEIJING (Reuters) - China and the European Union should promote a "positive signal" of economic globalisation and free and fair trade, Premier Li Keqiang told the EU's top diplomat Federica Mogherini.

"China and the EU, as two great forces in the world, should...respond to global challenges, reform and improve the international governance system, (and) promote a positive signal of economic globalisation and free and fair trade," Li told Mogherini on Tuesday, according to a statement on China's Foreign Ministry website on Wednesday.

The two sides should "respond to changes and uncertainty in the international situation with the cooperation and stability of China-EU relations," he said to Mogherini, who is visiting China for a China-EU strategic dialogue.

Some European diplomats say that China has launched a charm offensive with the EU since U.S. President Donald Trump took office, in an effort to find allies amid fears Trump could undermine it with his protectionist "America First" policies.

The Chinese statement cited Mogherini as saying that China and the EU shoulder the duty to safeguard international order, respond to terrorism and climate change and other global challenges.

Europe's climate commissioner said last month that China and the EU could not expect the same leadership from the Trump administration, after the U.S. president moved to undo the climate change regulations of his predecessor, Barack Obama.

But the EU remains cautious about the direction of its second-largest trading partner, concerned by China's massive steel exports, its militarisation of islands in the South China Sea and a turn towards greater authoritarianism under President Xi Jinping.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Xi has made a vigorous defence of globalisation and painted a picture of China as a "wide open" economy, but foreign business groups complain vociferously that China discriminates against them with policies that limit their access to the Chinese market and support domestic competitors.

The EU is looking to a bilateral investment treaty with Beijing to make it easier for European companies to do business in China.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.