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China & Europe Agree on New Trade Framework

According to the Ministry of Commerce website, on July 30, the Ministry of Commerce held a regular press conference.

Regarding the recent intensive consultations between China and Europe, He Yadong, a spokesman for the Ministry of Commerce, stated that at the first meeting of the Sino-Europe Trade and Investment Consultation Mechanism, both sides reached a consensus on the new positioning of “stable and balanced key trade partners between China and Europe”. They also preliminarily agreed to hold the second meeting of the consultation mechanism this autumn.

He Yadong said that over the past month, we have actively implemented the consensus reached at the first meeting and made every effort to prepare for the second meeting. We have carried out intensive internal coordination and maintained frequent, multi-level consultations with external parties. The working teams of both China and Europe have conducted more than 20 consultations, and the four working groups have engaged in in-depth and professional exchanges on each other's economic and trade demands. The Chinese side wishes to continue maintaining frequent communication with the European side, respecting each other and working towards common goals. We will explore practical and feasible solutions to address our respective concerns in the economic and trade fields, promote balanced and forward-looking development of Sino-European trade, and ensure the stability and balance of our key trade partnerships.