BEIJING (Reuters) – China reached an agreement with the European Union (EU) to further promote the two-way opening of their respective financial sectors and increase regulatory cooperation in the sector, in broad economic talks on Tuesday, according to Chinese state media.
In the ninth round of the EU-China trade and economic dialogue, Chinese Vice Premier Liu He and European Commission Executive Vice President Valdis Dombrovskis had “pragmatic”, “candid” and “candidate” discussions. efficient” on macroeconomics, industrial and supply chains, trade and investment, as well as financial cooperation, the Xinhua news agency reported.
“Both sides believe that the global political and economic situation is undergoing profound changes,” Xinhua reported, without elaborating.
The last round of these talks took place two years ago, also led by Liu and Dombrovskis, focusing on a historic investment pact. In late 2020, Brussels and Beijing finalized the deal after seven years of negotiations but have not ratified it since, amid claims of rights, geopolitics and a war in Europe.
The Xinhua news made no mention of the investment pact.
Tensions have deepened further with China’s refusal to condemn Russia’s invasion of Ukraine, with EU leaders urging Beijing in April not to “turn a blind eye” to what Russia says was a “special military operation”.
(By Ryan Woo)
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