Sino-EU economic relations of mutual benefit

The EU Chamber of Commerce in China and the China Chamber of Commerce to the EU have mentioned in their reports, respectively released in Brussels last December and in Beijing this January, the effect that politics has had on bilateral trade.

The annual report from EU states that political factors pose a challenge to Chinese enterprises operating in Europe, while calling for reducing the impact of politics on business. On Jan 9, the report from the China Chamber of Commerce to the EU noted that geopolitical factors and the tense trade situation between China and Europe have, to some extent, increased the economic costs for European companies in China.

China and the EU are each other's second-largest trading partners. The bilateral trade volume between China and Europe in 2023 was €740 billion ($756.88 billion), while the trade structure between China and Europe continues to optimize.

The largest increase in imports from China to the EU has been of motor vehicles, with an import value of €12.9 billion, while the largest rise in exports from the EU to China is also of motor vehicles, with an import value of €19.4 billion.

Chinese electric vehicle companies continue to rapidly expand their market share in Europe, with more than 20 Chinese brands having entered or planning to enter the European market. Some analysts predict that China will continue to be the world's largest automobile exporter this year.

On that basis, it is necessary to strengthen effective cooperation between China and the EU. It is essential for both parties to maintain further communication, eliminate unnecessary interference, and truly benefit consumers on both sides.

On the 50th anniversary of establishment of diplomatic relations between China and the EU in 2025, we look forward to both sides continuing to make steady progress on the broad road of economic and trade cooperation.