With Premier Li in Europe, China set to deepen, enrich ties with EU

Championing free trade 

Against the backdrop of a rising anti-globalization wave, the need for China and the EU to join hands in opposing trade protectionism and safeguarding an open world economy is more urgent now than ever, experts say.

China and the EU share broad common interests and a similar stand on free trade, investment and global economic governance, according to Vice-Foreign Minister Wang Chao.

With Premier Li's visit, said Ruan, China will strive to work with the EU and send a positive signal to the world that the two large economies are committed to free trade and economic globalization. With such efforts, China and the EU could serve as stabilizers of world economy.

However, the development of China-EU economic ties has not always been a smooth sail. The EU has yet implemented its obligations under Article 15 of the protocol on China's accession to the World Trade Organization (WTO), seen as a "stumbling block" in their economic cooperation, as Foreign Minister Wang Yi put it.

In accordance with Article 15, WTO members should cease the surrogate country approach in anti-dumping investigations on China after Dec 11, 2016, which expires exactly 15 years after China's admission.

The surrogate country approach allows an importing WTO member state to refer to prices or costs of the like product in a third country to calculate the value of Chinese products and determine whether it constitutes an act of dumping.

"As a member of the WTO, the EU has been refraining from fulfilling its international obligations, which is in fact a form of protectionism, and which goes against the notion of free trade advocated by the bloc," said Mei.

"Cooperation and competition coexist in the China-EU relations, yet cooperation and win-win is the theme," said Ruan, calling on the EU to abandon trade protectionism and fulfill its due obligations, so as to join hands with China in advancing free trade and globalization.

Unleash potential for cooperation 

Economic and trade ties between China and the EU, deemed as the cornerstone of their relations, are expected to top the agenda of Li's Europe tour.

In Brussels, the Chinese premier will attend a China-EU business summit and a signing ceremony of cooperation documents between small and medium-sized enterprises.

The EU is China's largest trading partner and China is the EU's second largest. In 2016, China overtook the United States and became Germany's largest trading partner, according to Germany's Federal Statistics Office.

With Li's visit, China and the EU seek to further unleash their potential for cooperation, with innovation cooperation being a new highlight, according to Ruan.

As the powerhouse of European economy, Germany is one of the most innovative countries in the world. Though being a small country, Belgium has unique advantages in fields such as the chemical industry, nuclear energy and biological medicine. By cooperating with the EU, China is poised to enhance its capacity for innovation.

"China needs Europe's advanced technology, while Europe needs China's vast market," said Ruan, adding that innovation cooperation would broaden the areas and enhance the level of the China-EU cooperation.