China-EU investment deal: leaders conclude marathon negotiations via video link
- EU praises Beijing for making an ‘unprecedented commitment’ to provide certainty and predictability to EU businesses
- Chinese President Xi Jinping says deal ‘shows China’s determination and confidence in fostering high-level external openness’
European Union and Chinese leaders concluded their marathon negotiations for a landmark investment pact on Wednesday, handing Beijing a diplomatic win ahead of the inauguration of Joe Biden as US president.
Beijing has had to make what the EU called an “unprecedented commitment” to provide commercial certainty and predictability, with wide access for an array of European companies to the hitherto heavily restricted Chinese market.
The talks were formally concluded during a video call hosted by Chinese President Xi Jinping, European Commission President Ursula von der Leyen and European Council President Charles Michel.
German Chancellor Angela Merkel and French President Emmanuel Macron also took part. Xinhua, the Chinese state news agency, said that leaders from both sides jointly announced the conclusion of negotiations as scheduled.
Xi said that the agreement “shows China’s determination and confidence in fostering high-level external openness”.
The deal would provide EU businesses with “bigger market access, more forceful systemic safeguards and a brighter future for cooperation”, Xinhua quoted him as saying.
