China Responds to EU’s Call for Trade Balance at China-EU High-Level Economic and Trade Dialogue
In the upcoming China-EU High-Level Economic and Trade Dialogue, the European Union (EU) plans to request China to reduce its export restrictions to Europe in order to address the trade imbalance. European Commission Executive Vice President and Trade Commissioner, Dombrovskis, highlighted the significant trade surplus that China has with the EU and emphasized that China’s market openness does not match that of the EU.
In response to these remarks, the spokesperson of the Ministry of Foreign Affairs reiterated China’s stance on trade surplus. It was emphasized that China has never intentionally pursued a trade surplus. The trade imbalance between China and the EU is a result of various factors such as industrial structure, division of labor, trade practices, and external factors. Moreover, the spokesperson pointed out that EU companies have benefited greatly from their business in China, which has contributed to their growth in the country.
However, the spokesperson also highlighted that the recent tightening of export restrictions on high-tech products from the EU has directly affected the potential for EU exports to China and has further contributed to the trade imbalance. To address the trade imbalance, the spokesperson emphasized that instead of blaming China, the EU should lift its export restrictions on China.
China’s response underscores its commitment to fair and balanced trade relations. Despite the trade surplus, China maintains that its trade policies are not the sole reason for the imbalance. The response also highlights the need for both parties to work together to find solutions that benefit both economies.
The upcoming China-EU High-Level Economic and Trade Dialogue will provide an opportunity for both sides to discuss and negotiate on trade-related issues. The dialogue aims to foster mutual understanding and cooperation to promote fair and sustainable trade between China and the EU.
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