中华人民共和国驻欧盟使团经济商务处

Economic and Commercial Office of the Mission of the People's Republic of China to the European Union

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Keynote Speech by Minister Peng Gang at the Webinar on China-EU Economic and Trade Relations

Dear Mr. Chairman Xu Haifeng,

Dear Mrs. Ececutive Director Gwenn Sonck,

Representatives of Chinese and European companies,

I’m delighted to meet many friends old and new today. Although we can only see each other online, it does not lower our enthusiasm of communication. Under the current situation, all circles in China and the EU, especially the business communities, really need more exchanges to enhance mutual understanding and strengthen confidence in our cooperation.

On April 1st, Chinese President Xi Jinping had a video meeting with President of the European Council Charles Michel and President of the European Commission von der Leyen. Premier Li Keqiang also co-chaired the 23rd China-EU Summit with the two Presidents on the same day. These are the most direct and important dialogue and political agendas between the highest leaders of the two sides this year, which has attracted much expectation and attention from all walks of life. I noticed that a senior EU official likened the China-EU summit to a "dialogue of the deaf". This description is one-sided and extreme without question. We can even classify it as "disinformation". In fact, a lot of positive results and consensus have been achieved at the Summit.

First, the Summit has laid a solid foundation for the further development of China-EU relations. Leaders of both sides agreed that China-EU relations have long been based on mutual benefits and win-win results. A stable China-EU relationship is not only beneficial to each other, but also crucial to world peace, stability and development. Under the current situation, China and the EU should maintain regular strategic communication, jointly address global challenges, and maintain world peace and prosperity. The statements made by the leaders of China and the EU at the Summit show that China-EU cooperation is still stable, the channels of dialogue and communication are still open, and the future development prospects are still bright.

Second, the Summit injected new impetus into China-EU cooperation in various fields. At the Summit, China and the EU agreed to hold five high-level dialogues on strategy, economy and trade, environment and climate change, digital and people-to-people to promote the implementation of bilateral consensus. China and the EU will continue to jointly fight against the pandemic and help the sustainable recovery of the world economy. The both sides will also explore and expand the cooperation in digital innovation and application, agriculture, technology, emergency management and other new areas, and agree to further strengthen the alignment of green development policies, enhance China-EU green coordination and create new highlights of bilateral cooperation.

Third, the summit provides an important platform for China and the EU to discuss international issues. The leaders of the two sides discussed in depth the Ukraine crisis and other international issues at the summit. China and the EU are in the same direction for deescalation and ceasefire, striving for peace talks and political settlement, and maintaining tranquility and stability of the world. Based on the principle of mutual respect, the two sides will continue to hold communication, realize more consensus, and jointly promote the solution of international problems and address global challenges.

China-EU relations are one of the most important and complex bilateral ties in the world, which means we cannot resort to one summit to eliminate all differences and disputes between the two sides. The French literature icon Madame de Sévigne once wrote: true friendship is never serene, and I believe her words also apply to the China-EU comprehensive strategic partnership. At the Summit, President Xi Jinping made it clear that China's vision of fostering a partnership with the EU for peace, growth, reform and civilization has never been changed. President Xi also emphasized that China and the EU should offset uncertainties in the international landscape with the stability of China-EU relations, deepen economic globalization through open cooperation, and meet global challenges through solidarity and collaboration. In accordance with the consensus reached by the leaders of the two sides at the Summit, we should continue to strengthen communication, coordination and cooperation, promote the steady and long-term development of China-EU relations, and provide more stability to a turbulent world.

Ladies and gentlemen,

Over the past years, despite the disruption of the Covid-19 pandemic and some political incidents, China-EU economic and trade relations have achieved strong growth, and China has become the EU's largest trading partner for last two consecutive years. From January to March this year, the trade volume between China and the EU reached 205.9 billion US dollars, maintaining a double-digit growth. In 2021, China-EU bilateral investment also exceeded the threshold of 200 billion US dollars, reaching 212 billion. The achievements displayed in our economic and trade ties are powerful responses to the rhetoric of "decoupling" and slandering on China-EU collaboration. These achievements also prove that China-EU economic and trade cooperation not only has a solid foundation with large scale, but also enjoys strong resilience. We can say with confidence that the EU and China are still important partners of opportunities for each other.

Of course, our bilateral cooperation also faces some obstacles. Especially in recent years, the EU has continued to strengthen and expand economic and trade toolboxes, and many business people are worried about the direction of the EU’s policy. According to a survey by the China Chamber of Commerce to the EU(CCCEU), the overall ratings of the EU business environment by Chinese companies declined for the second consecutive year. What is even more regrettable, the EU launched unilateral sanctions against China in March last year. As a consequence, the ratification of Comprehensive Agreement on Investment was frozen by the European Parliament. In the talks with many Chinese and European companies, I have deeply felt their eager aspiration for the CAI. But I empathize more with their disappointment and sadness over the setback in the ratification process.

We do not want to see these problems occurred in China-EU economic and trade cooperation. China and the EU are the world's two major forces, two major markets, and two major civilizations. Our two sides have different values and political systems, but these differences should not become obstacles in our cooperation, nor should they evolve into geopolitical and economic confrontations. Now the international situation is under dramatic turbulence. The Covid-19 pandemic and the Ukraine crisis have caused huge negative impacts on the world. Energy shortages, food crises, inflation risks, supply chain ruptures are close at hand, and economic globalization has encountered unprecedented difficulties and challenges. At this critical moment, China and the EU should join hands and make the right choice between "opening the door" and "closing the door", and between cooperation and "decoupling". This is not only the common aspiration of the business circles of our both sides, but also will profoundly affect the future of the world.

Dear Chinese and European Entrepreneurs,

Economic and trade cooperation has always been the ballast and stabilizer of China-EU relations, and the Chinese and European enterprises are the main force in promoting the bilateral economic and trade collaboration. Under the current situation, it is even more necessary for the entrepreneurs of both sides to play an active role in the face of difficulties, forging ahead and contributing to the steady development of China-EU cooperation .

We must have faith in our cooperation. Next Friday, China and the EU will witness the 47th anniversary of the establishment of diplomatic ties. Looking back to the past 47 years, China-EU relations have gone through ups and downs and always maintained a momentum of sound development. Our bilateral cooperation has also grown from a trickle of water into a broad river. Heavy storms may raise waves on the surface, but they cannot prevent the river from rushing forward. According to the 2021 annual report of the EU Chamber of Commerce in China (EUCCC), 60% of the EU companies plan to expand their business in China, and the number of companies considering moving out has hit a record low. The report of the CCCEU also shows that Chinese companies still have confidence in the EU market. About 44% of Chinese companies intend to increase their investment in the EU, and 67% of them plan to expand their local operations. These encouraging numbers prove once again that our businesses have strong passion in cooperation.

We must maintain our perseverance in the prospect of bilateral cooperation. China is the largest developing country in the world, with a huge market of 1.4 billion people and unlimited opportunities. The EU is the world's largest union of developed countries, with a solid economic foundation, prosperous people and a wealthy society. China-EU economic and trade cooperation still has huge potential, and the close connection between the two sides remains steady. Enterprises of both sides should persevere, deepen cooperation in the process of the development of the times, and strive to cultivate more fruitful collaborations in our two major markets.

China always attaches great importance to providing a better business environment for foreign companies in China, including those from the EU. Leaders of the Chinese government have held several forums on investment by foreign enterprises, emphasizing the need to create a market-oriented, legalized and internationalized business environment in China, and supporting foreign enterprises to better invest in Chinese market. Not long ago, Chinese Minister of Commerce Wang Wentao also had a meeting with Chairman of EUCCC Mr. Wuttke and representatives of European enterprises, listening to their opinions and suggestions on their development in China. On January 1st this year, the new version of China’s national negative list for foreign investment market access was officially implemented, and the number of items in the negative list has been greatly reduced from 190 to 31 nowadays.

China's efforts to improve the business environment have been widely recognized by the world. The official data shows that in 2021, foreign direct investment to China increased by one-third to a record high of 334 billion dollars. The OECD predicted that in 2021, China might absorb as much as one-fifth of the world's total FDI flows. The WTO said that the global trade grew by 10.8% in the same year, but China's foreign trade increased by nearly 30%. These numbers speak loudly that companies from all over the world are paying more and more attention to the super-large Chinese market, and businesses has full confidence in China's economic development.

We also hope that the EU institutions could demonstrate real confidence and tolerance, curb the impulse of protectionism and resist the temptation of unilateralism. It is in the common interests if the EU institutions could listen carefully to the voices and demands of enterprises, continue to adhere to the principles of fairness and openness, and defend the multilateralism based on the WTO rules.

All in all, China hopes to work side by side with the EU to inject more dynamism into the struggling global economy and better safeguard the cooperation and development of both Chinese and European companies in the long run.

I would like to end my speech here. Now I’m looking forward to interacting with you on specific topics.