The average trade volume between China and Europe exceeds 1.6 million US dollars per minute

Li Fei introduced at a press conference held by the State Council Information Office on the same day that under the leadership of the head of state's diplomacy, in recent years, China Europe economic and trade cooperation has overcome various difficulties, achieved fruitful results, and effectively promoted the economic development of both sides.
The bilateral trade volume has reached a new historical high. China and Europe are each other's second largest trading partners, with a more optimized trade structure. The trade in green products such as lithium batteries, new energy vehicles, and photovoltaic modules is growing rapidly.
Bilateral investment continues to expand. As of the end of 2022, the stock of two-way investment between China and Europe has exceeded 230 billion US dollars; In 2022, Europe's investment in China reached 12.1 billion US dollars, a significant increase of 70% year-on-year, and the automotive industry continued to become the largest hotspot; During the same period, China's investment in Europe reached 11.1 billion US dollars, a year-on-year increase of 21%, with new investments concentrated in fields such as new energy, automobiles, and mechanical equipment.
The scope of cooperation continues to expand. The two sides have completed the second batch of list publicity of the China Europe Geographical Indication Agreement, adding 350 mutual recognition and mutual protection of landmark products; China and Europe have taken the lead in formulating and updating the "Common Classification Catalogue of Sustainable Finance", and China Construction Bank and Deutsche Bank have successively issued green bonds.
The enthusiasm for enterprise cooperation is high. Recently, multiple European corporate executives have come to China to personally promote cooperation projects with China, demonstrating their firm confidence in investment and development in China; European companies actively participate in important exhibitions such as the China Import and Export Fair, Consumer Expo, and Service Trade Fair held by China. France has been confirmed as the guest of honor for the 2024 Service Trade Fair and Import Expo.
This year marks the 20th anniversary of the establishment of a comprehensive strategic partnership between China and Europe. Li Fei expressed that he is willing to work with the European side to jointly implement a series of important consensus reached by the leaders of both sides, firmly grasp China EU economic and trade relations from a strategic perspective, strengthen complementary advantages, and share the huge development opportunities of Chinese path to modernization.
In the next stage, both sides will deepen practical cooperation in fields such as digital and new energy, jointly maintain the multilateral trading system based on rules and centered on the World Trade Organization, maintain the security and stability of the global industrial and supply chains, and work together to contribute to world economic growth.