The EU-China Investment Agreement is a matter of course. The EU leaders plan to hold a video meeting with Chinese President Xi Jinping tonight in Hong Kong time to declare the completion of the negotiations. The German media received a statement from the European Commission, the highest executive body of the European Union, which exposed some of the main content of the China-EU Investment Agreement, including the full transparency of subsidies for Chinese state-owned enterprises.
It is worth noting that the Sino-US trade agreement signed by China and the United States at the beginning of this year has not yet touched on China’s economic structural reform issues such as subsidies for state-owned enterprises. Open a larger door gap.
China-EU Investment Agreement Negotiations, Xi Ying is dividing the US and Europe
Foreign sources pointed out that Ursula Gertrud von der Leyen, President of the European Commission and Charles Michel, President of the European Council, scheduled a video meeting with Xi Jinping at 8 pm Hong Kong time tonight, marking the completion of China-EU investment agreement negotiations. German Chancellor Merkel, the outgoing EU presidency, will also participate.
China will propose in the agreement that state-owned enterprise subsidies are fully transparent
It is understood that what China and the EU announced tonight is the end of the negotiations, but the text of the China-EU investment agreement still takes about one year to prepare, and it may not be officially signed until the second half of 2021 to the end of the year.
But the European Commission will issue a statement revealing the key points covered by the China-EU investment agreement. An internal European Commission document obtained by “Voice of Germany” stated that the official name of the agreement is the China-EU Comprehensive Investment Agreement (CAI).
The European Commission’s statement reads that “the comprehensive investment agreement will also be the first agreement to fulfill the state-owned enterprise’s behavioral obligations and subsidies for full transparency”. China also agreed to “continue and continue to work hard” to approve the ILO’s forced labor Basic convention.
The European Commission’s statement went on to say that China has fulfilled the necessary substantive commitments on the three key pillars of the negotiations: market access, a level playing field and sustainable development. The statement read, “The outcome of the negotiations is the most ambitious result reached between China and a third country.”
China and the EU tentatively announce the end of the negotiations, but still need time to prepare the text
The committee also stated that the agreement will eliminate foreign investment barriers in China for certain EU industries, including new energy vehicles, cloud computing services, financial services, and health industries.
The source told Deutsche Welle, “The starting positions of the two parties are not equal. China’s market is more closed, and everyone could have invested freely in Europe. Therefore, it was clear from the beginning that China would do better than the EU. Making more concessions is not particularly worthy of their celebration.”
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European Union ambassadors approved the draft comprehensive investment agreement on December 28. The agreement needs to be approved by the governments of the European Union and the European Parliament. According to Eurostat, the value of EU exports to China in 2019 was approximately 198 billion euros (242 billion US dollars), the value of imported goods was approximately 362 billion euros, and the bilateral trade volume reached 650 billion US dollars.
In 2019, China continued to become the second largest recipient of foreign direct investment after the United States. According to data from consulting firm Rongding Consulting, in the last quarter of this year, EU companies announced new foreign direct investment projects of US$1.6 billion in China.
Editor in charge: Deng Guoqiang
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