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China (中国) Today

July 24, 2018
<p>China (中国) Today</p>

Events Review (16.07–22.07.2018)

 

I. Major Events and Trends in the Development of the Situation In and Around China

The PRC's leadership attaches great importance to deepening cooperation with the European Union, which is becoming increasingly urgent in the context of the intensification of US-China disagreements in the economic sphere. In this regard, illustrative was the 20th EU-China Summit, held on 16 July, 2018 in Beijing, with the participation of the Premier of the State Council of the People’s Republic of China Li Keqiang, President of the European Council Donald Tusk and President of the European Commission Jean-Claude Juncker.

The parties discussed plans to deepen the strategic partnership between China and the EU in trade, investment, security, human rights, and sectoral cooperation. At this, the main attention was focused on the preparation of a bilateral investment agreement, protection of multilateral mechanisms of international trade and coordination of mutual positions in response to international challenges. Other topics of the talks were the struggle against global climate change, as well as the Iranian nuclear issue and the situation around Ukraine and Syria.

20th EU-China Summit was held on 16 July, 2018 in Beijing
20th EU-China Summit was held on 16 July, 2018 in Beijing

In the course of discussing the above- mentioned issues, were pointed out positive effects of the parties' actions for development and balance of their trade and economic relations, which have already led to an increase in the volume of mutual trade. In particular, China's actions included lowering customs duties on imports of cars, consumer goods and medicines, which facilitated the access of European manufacturers to the Chinese market. Similar steps are also being taken by the European Union.

As a result of the negotiations, agreements were reached on the concentration of efforts of the PRC and the EU in support of free trade, as well as promotion of peace and stability on the planet. At this, the emphasis was placed on the leading countries' common responsibility for maintaining the existing system of trade and economic relations, as well as the inadmissibility of trade wars. The parties also agreed on the need to speed up the process of completing an investment agreement by providing it with a “political impetus”. Along with this, representatives of the People's Republic of China and the European Union signed a series of memoranda of mutual understanding in trade, investment and regulation.

At the same time, the leaders of China and the EU reaffirmed their commitment to the Paris Climate Agreement and expressed their intention to establish a fund to assist poor countries in counteracting negative effects of the global climate change, supported UN Security Council's Resolution No. 2254 on the peaceful settlement of the conflict in Syria, and called on all sides to steadfastly implement the Minsk Agreements to ensure peace in the Donbas.

The article is available in Ukrainian

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