China and the European Union have agreed to hold one or two ministerial-level meetings each year under the newly established China-EU trade and investment consultation mechanism, a move that market watchers said would help stabilize bilateral economic relations and contribute to global stability.
Addressing a news conference on Thursday, He Yadong, a spokesman for the Ministry of Commerce, said that Beijing has invited European Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency Maros Sefcovic to visit China this autumn for the second meeting under the mechanism.
During the inaugural meeting held in Brussels, Belgium, earlier this week, the two sides agreed to deepen cooperation in emerging sectors such as artificial intelligence and the green transition, tap the potential of trade in services and address trade concerns through market access consultations, he said. The two sides also agreed on a new positioning for China-EU economic and trade relations, viewing each other as stable and balanced key trading partners, the spokesman said.
He added that the new mechanism is expected to improve business confidence on both sides, as well as inject greater certainty and positive momentum into Chinese, European and global economies.
