New mechanism to keep ties with EU on right track

By Zhang Zhouxiang in Brussels and Zhong Nan in Beijing |

chinadaily.com.cn |

The launch of the China-EU trade and investment consultation mechanism is expected to provide a regular platform for dialogue to address bilateral economic differences, said market watchers and business leaders.

While trade frictions between China and the European Union may persist in the near term, the new mechanism could help prevent disputes from escalating and keep bilateral economic relations on a more predictable track, they added.

According to a joint statement issued on Tuesday, Chinese Commerce Minister Wang Wentao and European Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency Maros Sefcovic identified four initial work streams during the inaugural meeting of the China-EU trade and investment consultation mechanism in Brussels on Monday.