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EU launches 10-point action plan for China-EU Summit

China's well-off network on March 22, the old week, the European Commission launched a strategy document, which describes China as a partner, economic competitors and "systemic rivals" (systemic rival). On Thursday (March 21), the heads of EU member states will discuss and vote on the 10-point action plan proposed in the strategy document.



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Reuters, DPA reported that the strategy document said that the EU's main goals are three:

On the basis of well-defined interests and principles, the EU should deepen its interaction with China in order to promote common interests at the global level.

The EU should actively seek more balanced and reciprocal conditions that dominate economic relations.

In order to maintain long-term prosperity, value and social models, the EU itself needs to adjust to cope with changing economic realities and strengthen internal policies and industrial bases.

The 10-point action plan includes ensuring the security of critical digital infrastructure, reaching a common EU position on the security of 5G networks; focusing on the security risks posed by foreign investments in key assets, technologies and infrastructure, and Member States should quickly implement regulations To screen foreign direct investment.

In addition, the action plan covers: strengthening cooperation with China on the three pillars of the United Nations - human rights, peace and security, and development; climate protection, calling for China to reach its peak emissions by 2030; strengthening interaction on the Iranian issue; Eurasia Interconnection Strategy to safeguard the EU's interests in partner countries' stability, economic sustainability and goodgovernance; WTO reforms to achieve more balanced and equitable economic relations; and to promote procurement opportunities in China Equal and open; maintain high standards of labor and the environment, formulate guiding principles for foreign bidders and foreign products in the EU procurement market; respond to foreign ownership or distortion of funds in the EU market.



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According to Reuters, EU trade commissioner Cecilia Malmstrom said at a meeting of the American Chamber of Commerce on Thursday (March 21) that the international economic order has changed.

"China has emerged as an economic and geopolitical competitor and a system contender." Malmstrom also said that the EU often agrees with the United States on global issues, but its views on how to solve these problems are inexhaustible. The same - including US tariffs on EU products and Washington and Beijing trade wars.

European and Chinese research center expert Duncan Freeman told Reuters: "In the past, it was extremely difficult for the EU to form a clear strategy on China policy. Past policy documents are not strategically coherent. Now I see a clear effort on this."

The bilateral trade volume between Europe and China exceeds 1 billion euros per day. The EU is China's largest trading partner; China is the EU's second largest market for goods and services, second only to the United States.



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However, Reuters commented that the implementation of any new EU policy may be complicated, especially if member states want to attract Chinese investment.

Italy plans to join China's huge infrastructure projects in the Belt and Road. At the same time, the free trade countries Ireland, Sweden and the Netherlands oppose any restrictions in business relations. The German position will be very important. While sometimes pressured China to demand fair competition, Berlin and Beijing also maintain close economic and trade relations.