Attendees of the China Europe Business Summit Forum call for upholding openness, inclusiveness, and strengthening communication and cooperation

On June 14th, local time, the 2024 China Europe Business Summit Forum was held in Brussels, the capital of Belgium, attracting over 300 leaders, scholars, and experts from the Chinese and European political and business communities.

This forum focuses on the core topic of "The Two Major Markets of China and Europe: Deep Integration and High Dependence", exploring in depth how to tap into the potential of China Europe cooperation in the context of the new era and jointly depict a blueprint for a green and digital future. Participants unanimously agreed that China and Europe share common goals in addressing global challenges such as climate change and digital transformation. We should take this summit as an opportunity to strengthen communication, deepen trade and investment cooperation, and work together to further promote the prosperity of the China Europe market.

In recent years, the momentum of China Europe trade cooperation has been strong, and the trade structure has been continuously optimized. According to Eurostat data, in February 2024, the trade volume between China and Europe reached 54.5 billion euros, of which the EU exported 17 billion euros to China and imported 37.5 billion euros from China. Despite slight fluctuations in certain months, the overall bilateral trade volume between China and Europe has maintained a growth trend, and the two sides have become each other's second largest trading partners. At present, over a quarter of China Europe trade products focus on high-tech fields, covering green products such as photovoltaics, batteries, and electric vehicles, and their share is steadily increasing, bringing more development opportunities for both sides. In addition, as an important logistics channel connecting China and Europe, the China Europe freight train has developed rapidly in recent years. As of May 2024, a total of over 90000 trains have been operated, transporting over 8.7 million TEUs of goods with a value of over 380 billion US dollars. It is expected to become a logistics artery for China Europe trade in the future.

Despite remarkable achievements, China Europe commercial cooperation still faces many challenges. On the one hand, factors such as weak global economic recovery and rising trade protectionism have brought certain pressure to China Europe economic and trade cooperation. On the other hand, the differences and frictions between the two sides in trade and investment, intellectual property protection, and other areas still require strengthened communication and negotiation.

Peng Gang, Minister of Economic and Commercial Affairs of the Chinese Embassy in the European Union, delivered a keynote speech at the forum, emphasizing that practical economic and trade cooperation between China and Europe is an opportunity rather than a risk. Regarding the recent preliminary disclosure of the European Commission's plan to impose a temporary countervailing duty on imported electric vehicles from China, Peng Gang expressed that China is highly concerned and firmly opposes it. He pointed out that China's industrial subsidy policy is guiding and strictly adheres to the rules of the World Trade Organization. All enterprises can enjoy it equally, and there is no prohibited subsidy stipulated by the World Trade Organization. The entry of Chinese products and enterprises will bring positive competition to the European market, promote technological development and enhance corporate strength in Europe.

Looking ahead to the future, China Europe trade cooperation is expected to achieve deeper development in areas such as digital economy, green energy, and cultural exchanges, creating more business opportunities for both sides. According to the EU China Chamber of Commerce, a large number of Chinese companies have entered the European market, providing strong support for Europe's digital and green transformation. Both sides will further strengthen cooperation in fields such as 5G, artificial intelligence, and clean energy, and jointly promote technological innovation and industrial upgrading. At the same time, by expanding logistics channels such as the China Europe freight train, strengthening cooperation in financial services, infrastructure construction, and other fields, we will further improve transportation efficiency, reduce costs, and provide more convenient and efficient services for both companies. In addition, China and Europe will strengthen exchanges and cooperation in fields such as education, culture, and tourism, enhance mutual trust and friendship, and lay a more solid foundation for economic and trade cooperation.

Sven Bishop, the project manager of the "Europe in the World" program at the renowned Belgian think tank Egmont Royal Institute of International Relations, stated at the forum that the dynamic changes in international power are normal phenomena, and the development of multipolarity in the world and competition between countries are inherent characteristics of international relations. He believes that cooperation between the European Union and China is crucial for the long-term development of both sides, and hopes that both sides can maintain an open and inclusive attitude to jointly address challenges. (Economic Daily reporter Xie Mengfan)