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Beijing says China-EU trade talks set in the fall, to be held regularly each year
The new mechanism sets ministerial talks once or twice a year as both sides seek to narrow a 360 billion euro trade gap, officials said.
China and the European Union will hold ministerial-level trade talks once or twice yearly, Commerce Ministry spokesperson Yadong announced Thursday, establishing a new trade and investment consultation mechanism.
Following Monday's meeting in Brussels between European Union trade commissioner Maroa and Wang Wentao, China's commerce minister, both sides addressed the widening trade gap. Maroa said Europe needs to 'defend our industrial base and keep pushing for a level playing field.'
New European Union measures protecting the steel industry and limiting e-commerce parcels took effect yesterday, targeting Chinese imports amid a 360 billion euro trade deficit with China.
Maroa will travel to Beijing this autumn for further discussions, with both sides intending to boost collaboration in artificial intelligence and renewable energy transition.
China has expressed willingness to increase imports, but state media-linked Yuyuantantian said last week the European Union 'needs to relax its export controls on high-tech products.' Rising Chinese car and battery exports further complicate negotiations.