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European Union

China-EU Relations: 50 Years of Achievements and Bright Prospects

Strategic Insights

— 1 min read

Chinese Ambassador Feng Ping recently published an article in the Czech media outlet 'Parliamentary Gazette' highlighting the significant achievements in China-EU relations over the past 50 years. The article emphasized the importance of Sino-European cooperation, with Ambassador Feng Ping stating that China is willing to work with the EU to open up a better 50 years of China-EU relations. The two sides have made significant strides in various fields, including trade, investment, climate change, and green transformation.

Key Takeaways:

  • China's investment in the EU has grown from almost zero to nearly $260 billion, with Chinese enterprises investing over $100 billion in the EU, setting up over 2,800 direct investment enterprises, and employing over 270,000 foreign employees.
  • The annual trade volume between China and the EU has increased from $2.4 billion to over $780 billion, making the EU one of China's largest trading partners.
  • China and the EU have made effective coordination in addressing climate change and promoting green transformation, with China's new energy vehicle and battery industry forming a new round of investment hotspots in the EU.
  • Despite some people's claims of an unbalanced trade relationship, Europe maintains a significant trade surplus in services with China, with a surplus of $50.358 billion in 2024.
  • China has set up a "fast track" for European companies, allowing them to maintain a normal business operation in China.
  • China has reduced its overall tariff level to 7.3% and has reduced the negative list for foreign investment access from 190 items to 29 items.
  • German companies such as Volkswagen Group have seen significant growth in operating income in China, with the company's total profit in China from 1984 to 2024 being nearly 150 billion euros.

Statistics:

  • $260 billion: 50-year growth in Chinese investment in the EU.
  • $100 billion: Chinese enterprises' investment in the EU.
  • 2,800: Number of direct investment enterprises set up by Chinese companies in the EU.
  • 270,000: Number of foreign employees employed by Chinese companies in the EU.
  • $2.4 billion: Initial annual trade volume between China and the EU.
  • $780 billion: Current annual trade volume between China and the EU.
  • $50.358 billion: EU's service trade surplus with China in 2024.

Sources:

  • Ministry of Foreign Affairs of the People's Republic of China
  • 'Parliamentary Gazette'
  • Volkswagen Group
  • European Commission

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