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China and the EU

Latest news about China and the European Union.The EU-China Strategic Partnership, which is based on the 1985 EU China trade and cooperation agreement, has grown to include foreign affairs, security matters and international challenges such as climate change and global economy governance. The EU and China are world players. The EU is China’s biggest trading partner, while China is the EU’s largest source of imports and 2nd largest two way trading partner. The trade and investment relationship is a major source of wealth, jobs, development and innovation for both sides.

The EU's Trade Relationship with China
China is the single most important challenge for EU trade policy. China has re-emerged as the world's third economy and the biggest exporter in the global economy, but also an increasingly important political power. EU-China trade has increased dramatically in recent years. China is now the EU's 2nd trading partner behind the USA and the EU's biggest source of imports by far. The EU is also China's biggest trading partner.

EU requests WTO consultations on Chinese export restrictions on raw materials - briefing
China applies export restrictions - quotas and export duties - on key raw materials. The European Commission says these restrictions distort competition and increase global prices, as some of these resources cannot be found elsewhere. Downstream industries in China therefore have access to cheaper materials than their competitors outside China. That is not a level playing field, and the EU and U.S. have asked for consultations with China at the World Trade Organisation (WTO).

EU and China agreements to strengthen cooperation on protecting Intellectual Property Rights and on preventing illicit imports of chemical substances used for synthetic drug production - briefing
Commissioner Kovacs, responsible for Taxation and Customs, today signed an Action Plan with the Chinese Ambassador Song to strengthen customs cooperation on protecting Intellectual Property Rights. They also signed an agreement to enhance customs co-operation in monitoring trade and preventing trafficking and the diversion of drug precursors (chemicals that are essential to the illicit manufacture of narcotic drugs).

EU - US - China summit on product safety - briefing
Following the successful "Joint U.S.-EU-China Initiative on Consumer Product Safety Compliance" held in China in September 2008, the product safety authorities of the European Union (European Commission, EC), the U.S. (Consumer Product Safety Commission, CPSC) and China (General Administration of Quality Supervision, Inspection and Quarantine, AQSIQ) held a summit to strengthen their trilateral cooperation in this area.

EU-China trade in facts and figures
China is now the third biggest national exporter in the global economy after Germany and the US. China now accounts for about 8 % of all imports and 12% of all exports in world trade in goods. More than half of China's exports are currently capitalised by foreign companies. Most of this capitalisation comes from neighbouring Asian companies in Japan and South Korea. 8% of it is European.

Chinese treatment of foreign financial information providers - EU WTO request
The European Union has formally requested consultations at the World Trade Organisation (WTO) over measures that affect the operation of foreign financial information suppliers in China. China has prevented foreign suppliers of financial information services from providing their services directly to their clients. They are now required to operate through an agent that is a branch of Xinhua itself. Moreover, Xinhua has recently launched a financial information service in direct competition with foreign suppliers. The European Commission had tried to solve the issue through cooperation and dialogue, but without success. The United States has also requested consultations at the WTO over this issue.

EU Trade with India and China
EU27 trade with China grew by 150% between 2000 and 2006. EU Trade with India up by 80%.

China - EU trade
The European Union and China, two of the biggest markets in the world, have everything to gain by deepening their commercial ties. Since 1978, bilateral trade has increased more than 60 fold and reached approximately EUR 254 billion in 2006 (Eurostat).

China and product safety: frequently asked questions
EU Consumer Commissioner Meglena Kuneva is making a vist to the People's Republic of China on 21-27 July 2007.

China - EU trade - background note
EU Trade Commissioner Peter Mandelson met Chinese Commerce Minister Bo Xilai in Brussels on 12 June 2007 for the annual EU-China Joint Trade Ministerial Meeting. China and the EU have one of the fastest growing trading relationships in the global economy: Europe is now China's largest trading partner, and China Europe's largest source of manufactured imports. The Minister and the Commissioner reviewed bilateral trade relations. Commissioner Mandelson urged his Chinese counterpart to continue to address barriers to EU exporters and investors in the Chinese market and to protect EU businesses in China from intellectual property theft. Although China has now been in the WTO for six years, EU exporters and investors continue to face persistent problems entering and operating in the Chinese market.

China and the EU
China and the EU, two of the biggest markets in the world, have everything to gain by deepening their commercial ties. Since 1978, EU-China trade has increased more than 60-fold and reached around EUR 210 billion in 2005 (Eurostat).